What are the bills you must pay when owning a home or Apartment?

Question

I'm 15 but,I want to know these things now because I don't think my mom will teach me and I want to know when you expect the bills and how many there is to pay.

Answer 1

Mortgage/Rent

Insurance

Water/Sewer

Garbage Pickup

Electricity

Heat

Phone/TV/Internet (optional)

Answer 2

The first cost of owning a home is the mortgage obviously, which runs .6-1% of the cost a month, including interest.

Property insurance which is divided among homeowners, windstorm, and flood and comes to about 1/3 of a home mortgage.  Renters insurance is much cheaper because it only covers contents, but I have never rented or owned a condo so I don't know how much that will run you.

Property taxes, which costs about the same as the insurance.

Utilities which can vary and include water, sewer, trash, electric, gas, phone, cable, and internet.  For an idea, my last water, sewer, and trash bill was $60, electric $149, no gas but those bills in my area are $40 or less and reduce your electric bill, phone was $64, no cable, but it can be as cheap as the gas or as much as the electric, and internet is $15.  You might consider a security system a utility too.  That would run about $35 a month.

HOA dues in some subdivisions.  In mine, it is about $13 a month.  Gated communities or those with golf courses could be much more expensive, like I think the one across the street charges $60 a month.  In condos, it will include insuring the outside, maintaining the outside, water, sewer, trash, and maybe cable and internet too.

Repairs and maintenance like fixing dripping faucets, replacing air filters, light bulbs, new roofs every 15 years, painting interior and exterior as needed, mowing and edging which even if done yourself includes the cost of the equipment, gas, flowers, and mulch.  The cost will depend based on the age of your house.  My house is 24 years old and I spend on average no more than $50.

There are also appliances and furniture you have to consider replacing every once in a while.  Mattresses are replaced about every 10 years, then maybe washers, dryers, and air conditioning/heating systems.  Microwave ovens and garbage disposals are cheap, but when you add them up with the TV, and everything, it really adds up.  You might want to budget something like $50 a month to save for replacement of those items, but if you don't have a washer and dryer, you might spend $10 a week at a laundrymat, still have to save $40 a month for appliances and furniture, but should be saving $20 a month on utilities.

Computers, Wii games, DVD players, TV, stereo, and other entertainment gear can cost hundreds every year, depending on your lifestyle.

If you are on your own you will also have costs for food, eating out, clothes, health, dental, and life insurance and copays, deductibles, eyeglasses, and presciptions, and other items you would purchase at a grocery store like soap, laundry detergent, toilet paper, toothpaste, and pet food.  All that will vary, but the food and other grocery items can easily be $60 a week, more if you make your own lunches.  Insurance is usually partially paid by your employer, but you still have to pay copays and deductibles too, so that should cost you $50 a month, minimum, with good benefits.

Answer 3

All of them  

Answer 4

The short answer is a lot of bills. Obviously you will have to pay rent or lease payments. Other than that it is based on whether you are renting or buying in your case ill assume renting. First theres Security deposit and usually up to two months rent up front, that's 3 months rent right off the bat.

If you rent you may be able to get some of your expenses covered in the cost of your rent, it varies by the land lord and the agreement you make with them. If you can't get that deal here is most of what you can expect to pay.

- Electricity

-Gas

-Oil

-Phone

-Cable

-Internet

-Renters insurance

-Food

-Gas for your car

Those are the major expenses. There are many more I didn't list but I'm sure others will.

Answer 5

Have you asked your mom to explain to you all about paying bills? She might not realize you're mature enough to be interested. Tell her you'd like to learn. I'll bet she'll be pleasantly surprised and she'll be glad to explain it to you.

Answer 6

the amount of bills to pay will vary between different places to rent and what you really want to pay for.  here is a good general list

rent or mortgage

electric

water/sewage (these are usually bundled)

trash removal (this and water/sewage are usually paid by Landlord)

heat (some times included)

renter's insurance (very good idea, usually pretty cheap)

TV, Phone, Internet (bundle these with a carrier,  you get a better rate)

if you want any of them.

Answer 7

Need to pay all the utilities like gas,electric,phone and cable or satellite. Now if you own your home.You have to pay water and sewage.Plus above stuff that I already have mentioned.Also if you own your home you have to pay property tax. If something goes wrong with your home. You have to pay to get it fixed.If you are renting you just call your landlord. They have to fix it.

Answer 8

Good questions for someone your age but you may be shocked by the answers. All figures are monthly.

1. Rent: For a 1 bedroom about $600.

2. Electricity/Natural gas: $100

3. Water: $30 (sometimes paid by landlord)

4. Garbage: $15 (sometimes paid by landlord)

5. Phone: $40 (this is for basic service only)

6. Cell phone: $40 to $100

7. Cable or Satellite TV: $50 to $100

8. Groceries: $300

9. Car payment: $200 (this is for a cheap car)

10. Gasoline: $250

11. Car repairs/mainenance: $50

12. Car insurance: $100

13. Renters insurance: $20

14. Entertainment & dining out: $400

Total: $2,195 (this is the total for the lower numbers)

As you can see it adds up fast and this doesn't cover everything. For a young person entertainment and dining out can add hundreds a month to your expenses. For example, a drive through coffee a day can run you $150 a month.

If you work full time at $8.00/hour you'd only make $1,386 a month and that's before taxes. Your take home would be approximately $1,000 a month. Even with 2 people working full time it still doesn't cover all your expenses.

I hope this helps. With some budgeting and discipline you can make it work.

Answer 9

The bills that you have to pay when you own a home/rent an apartment are 1.  your mortgage/rent payment. 2.  utilities like gas, water, electric, phone, cable, internet  3.  groceries,  4.  food,  5.  repairs/maintenance,