daily cost of your housing

[pinkytoe]

After our recent vacation to Canada, I started thinking about the high cost of vacation lodging these days and whether or not owing a home is that much cheaper if we average the associated costs monthly. The thought came about because after every vacation I get wanderlust and want to sell the house and possessions and go. I know once the house is paid for is another matter but for now with mortgage, taxes, insurance and repair average it costs us $48.50 per day. Yours?

[Aqua Blue]

Mine has to be smaller than that, as I live on about 2k a month.

[SteveinMN]

For us it looks like it comes to about $44.28 a day. That's probably a few cents/dollars low because I do not have visibility to all of the spending DW does for "house stuff". And that's year-to-date. I expect that figure to go up by about $3 a day by the end of the year because we're replacing the biggest window in the house. So, all told, right up there with you, pinkytoe.

[Aqua Blue]

Went back and looked and it looks like taxes and insurance are about $8/day. This house is only 5 years old, I did paint and one of my siblings upgraded the kitchen faucet for me when I moved in 18monthes ago, but really haven't had any other repairs, so that would be minimal.

[bae]

I know once the house is paid for is another ...

Even then, you have the opportunity cost of the value of your home if invested in other things to consider.

[ApatheticNoMore]

A bit under $34 a day, that's just the cost of rent. That's probably under market and I may move and my costs might go up then (though I could go back to a studio if it seems the right choice). What is the maximum percentage income (gross of net?) they say it's alright to spend for housing? I was thinking about that the other day, if I'm looking for places, what do I have to work with here? I think it's more than I'm paying though.

[bae]

$3000 property tax
$5000 maintenance
$4000 utilities
$1500 insurance
--------
$13500/year

$37/day-ish

[pinkytoe]

Oops, I forgot utes so:
$7200 mortgage
$7200 property tax
$635 insurance
$1500 maintenance
$1800 utes
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$18335/yr
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$50.25/daily-approx.

[awakenedsoul]

pinkytoe, My house has been paid off for 14 years. I pay $1,500 in property taxes, $3,000. a year in maintenance, about $400. a year for home insurance, and utilities run me about $500. a year. I can live on $15,000. a year. I have a small home in a warm climate. Could you rent out your house and travel?
A lady in my knitting group just got back from one of those river cruises in Europe. She had a fabulous time! I'd love to do that. I'm fortunate that I was able to travel all over Europe in my late twenties with my work. I'd still love to go back once a year, though. Hope you can find a way to keep traveling. It's so much fun!

[Spartana]

Interesting way of looking at the cost as I often rent off-season vacation homes for a month or 2 at a time (cheaply) and this is a great way to compare - although I guess it's an apples to oranges comparison because if you are staying at vacation houses while still owning (and paying) your own house then you'd need to figure out the difference if you were doing just one or the other.

Mine, roughly, came out to $9.00/day for a paid off home with low prop taxes, insurance and utilities. I didn't include maintenance other then stuff like lawn care, but that would probably tack on quite a bit more depending on the types of repairs I needed to do. No way could I live permanently in vacation houses for that and worth keeping the place (or a similar place) as a home base/flop house to return to since it costs so little to keep. Of course it needs a new roof, a new hot water heater, there are termites, and plumbing and electrical problems, and the carpets need to be replaced, and it needs painting, and...well maybe it's not so cheap after all :-)!