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. :0! 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
------------
$18335/yr
------------
$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 :-)!

[SiouzQ.]

Interesting to look at it this way ~ when I don't have a housemate, my townhouse rental (in a co-op community) costs me $16.00 per day in rent. Add in the electric bill for another approx. $30 per month for a total of $46 per day (I am not including my internet bill because that is a luxury, not a necessity). But when I decide to rent out my extra bed room, my per day cost of my portion of the rent goes down to...get this...$5.25 per day! Maybe I should rethink how long I am going to go roommate-free this time. I AM enjoying having my digs to myself for right now, but I have to say, even being such the introvert and loner that I am, I am finding myself missing my last roommate and his cat. My cat misses his cat, I can tell! She spent the last week following me around everywhere and meowing, and is confused that no one is stealing her food out of her bowl!

[Tammy]

I love this question.
$48.66 for our family of 2

[SteveinMN]

If I get rid of our house payments, we get down to $11.63 a day plus whatever additional taxes we pay for no longer having a mortgage deduction. FWIW.

[jp1]

I get to be the outlier here at $108/day. We live in one of the most expensive cities in the country. But in the big scheme of things it makes sense. SO's salary would be significantly lower anywhere else because it's based on 1) the cost of living here, and 2) the size of the hotel that he works at. He makes enough more here than he would anywhere else (except somewhere like NYC) than our total housing costs.

[Alan]

Roughly $64 per day. A few years ago we re-mortgaged the house to pay off our daughter's school loans and have approximately 3 years left on that note. Once it's out of the way we should be in the $28 per day range.

[shadowmoss]

When I bought this older, remodeled mobile home in a 55+ park I did the back of the envelope math, and between the fact that I paid $5,500 for it, the lower lot rent and utilities I could hand the keys over to the park after 2 years and be slightly ahead of the costs of rent and utilities in the apartment. Didn't count the difference in commute as the apartment was 1/4 mile from work and I'm 17 miles now. I just didn't like apartment living.

[Blackdog Lin]

Ours pencils out at about $20/day. Two people, no mortgage, small-town flyover country.

[mschrisgo2]

Right about $40/day: rent, renters' insurance, electricity and internet access, all other utilities are included in rent.