Average monthly expenses in Calgary?

[taemo]

Just wondering what the average monthly expenses are for a couple here in Calgary.

My gf and I just bought a house and will be moving in together next year, I'm trying to plan ahead and see how much per month and paycheck should we set aside for expenses.

So far here's what I have per month and paycheck
Internet/Cable - 200 - 100
Electricity - 150 - 75
Water - 80 - 40
Grocery - 500 - 250

The numbers are just my guesstimate and may be a higher than usual for a couple of 2 just to be safe.

I have mortgage, car and insurances already and I'm wondering if I'm missing anything else

[interlude]

Originally posted by taemo
Just wondering what the average monthly expenses are for a couple here in Calgary.

My gf and I just bought a house and will be moving in together next year, I'm trying to plan ahead and see how much per month and paycheck should we set aside for expenses.

So far here's what I have per month and paycheck
Internet/Cable - 200 - 100
Electricity - 150 - 75
Water - 80 - 40
Grocery - 500 - 250

The numbers are just my guesstimate and may be a higher than usual for a couple of 2 just to be safe.

I have mortgage, car and insurances already and I'm wondering if I'm missing anything else

You are missing:

- gas/heating
- Property insurance
- house or townhouse/condo? If townhouse, there are condo fees
- phone (unless you plan on using your cell phone)

Thats all I can think of so far.

[taemo]

Originally posted by interlude


You are missing:

- gas/heating
- Property insurance
- house or townhouse/condo? If townhouse, there are condo fees
- phone (unless you plan on using your cell phone)

Thats all I can think of so far.

ah thanks, almost forgot about gas/heating.
how much does it usually cost a month? summer and winter?

property insurance, just cant remember right now how much it but I think it was about $400 a year.

house so fortunately no condo fees, but just realized that I should add the property tax on the budget list as well.

phone, we have no plans on getting a phone since both of us have a cell phone but I believe the shaw internet/cable/phone package that I'm currently paying right now is around $200

[interlude]

Originally posted by taemo


ah thanks, almost forgot about gas/heating.
how much does it usually cost a month? summer and winter?

property insurance, just cant remember right now how much it but I think it was about $400 a year.

house so fortunately no condo fees, but just realized that I should add the property tax on the budget list as well.

phone, we have no plans on getting a phone since both of us have a cell phone but I believe the shaw internet/cable/phone package that I'm currently paying right now is around $200

My wife pays all the bills and I pay the mortgage, but I think she mentioned that gas/water was around $400/month in our townhouse

Property tax and insurance are 2 different things. Our property tax is around $1800 a year, and slowly going up up each year.

As for the phone, in 2006 when we bought the townhouse, we tried the cell phone route, and it costed us more in the end. Then after we hooked up the shaw landline, only my in-laws call it. So keeping your cell phones is probably the best option.

[Tik-Tok]

Originally posted by taemo


ah thanks, almost forgot about gas/heating.
how much does it usually cost a month? summer and winter?


Depends on your house, old or new, well sealed or shite, what temp. do you like? There's a thread about how much people pay for gas/elec. look it up, will give you a better idea.

(fwiw, my gas bill is usually $40 in July/August, and $300 in Jan/Feb, but I've got a 1959 house kept at 23*C, and also a heated 800sq.ft separate garage kept at 8*C)

Edit: Your groceries might be on the low side, depending on how well you eat. Eating healthy is fucking expensive and adds up quick.

[Manhattan]

Adds:

- Phone bill
- Transportation costs (gas, bus pass)
- Entertainment (eating out, movies, strip club
:poosie: )
- Budget a hundred or two for misc expenses each month

[Ntense_SpecV]

Don't forget about property taxes...the city never does.

[ercchry]

property tax is ~$600/$100k of assessed value

i use enmax easymax for water/elec/gas/recycling/etc its ~$300/month average (two furnaces, 3 people)

insurance is ~$1k/year

cable/internet can run from about $60-$150 depending on promotes/options

we eat out a lot so we budget $240 for groceries (for two of use)

the we normally use about $800/month each as spending cash. covers gas, restaurants, booze, going out, whatever.

[sputnik]

Here is my list.

- Mortgage
- Property Tax
- House Insurance
- Electricity
- Natural Gas
- Water/Sewer
- Recycling
- Internet
- TV
- Land Line Phone
- Cell Phones
- Car Insurance
- Car Maintenance
- Gasoline
- Groceries

Then you have other things like household goods, home maintenance, entertainment, clothing, travel, savings, RRSPs etc.

[Sugarphreak]

...

[taemo]

thanks, all updating my list with all the additioanl info


Originally posted by sputnik
Here is my list.

- Mortgage
- Property Tax
- House Insurance
- Electricity
- Natural Gas
- Water/Sewer
- Recycling
- Internet
- TV
- Land Line Phone
- Cell Phones
- Car Insurance
- Car Maintenance
- Gasoline
- Groceries

Then you have other things like household goods, home maintenance, entertainment, clothing, travel, savings, RRSPs etc.



Originally posted by Sugarphreak


This is a pre-build house, correct? There may be some extra costs depending on whom you have selected as your builder:

Does your builder include the following:
-washer & Dryer
-Sod or Seeding of your yard
-Fencing
-Window coverings / blinds

If this is your first house, then you also need things like a lawn mower, weed wacker, hoses & sprinklers and snow shovel.

I typically use about 120$ a month when you average everything out per year for just regular outdoor maintence. With a newer home you at least don't have to worry about any major upkeep for a good 8 to 10 years.

correct, they will start building the house within the next couple of weeks and should be ready by Feb/March 2013.

we picked a house overlooking country hills so only the 2 sides will need fences built and we will have a neighbor on one side so the cost should be pretty low.

my parents will be moving to a condo once my gf and I move out, so they will be giving usmost of the outdoor equipments and furnitures.

as it is right now, I should be able to save 200-400$ per paycheck

[ercchry]

Originally posted by taemo


as it is right now, I should be able to save 200-400$ per paycheck

omg, thats pretty scary... you didnt max out your lending amount did you?

[Sugarphreak]

...

[Feruk]

$200-400 a paycheque? I'd be shitting bricks.

[taemo]

Originally posted by ercchry


omg, thats pretty scary... you didnt max out your lending amount did you?

no, we were approved for 600k and our house is around 410k.
i'm just setting my expenses higher to be safe, so my saving per paycheck can go as high as $400-600.
then my gf has her own saving as well.



Originally posted by Sugarphreak

Are the window coverings, W&D and sod included? With your average builders they are usually extra. Those are faily big ticket items; my current house was about $4000 for blinds and we did it the cheap way though blinds.ca to save big bucks otherwise we would have been closer to $7000.

We also did the Sod on our house about 2 years ago on a fair sized lot, which was about $1200 for the sod delivery and roller rental when it was all said and done.

W&D are somes included, but you want to leave youself around $2000 for that otherwise.

Fencing is not too bad, the cheapest way to go is that short black chainlink... it has a nice look to it as well. If you want privacy, the larger wood fencing can get quite expensive in a hurry.


Only reason I was asking is because I am also in the process of building a house, our builder doesn't include any of those things.

Our builder is Morrison Homes, w&d is included but we might grab the ones we have here at home already since they are 6 cu ft front load w&d

since we have no neighbor on the back, I'm thinking of not putting any blinds on the living room/kitchen to get more natural light and I told my gf that we would buy the blinds cash instead of financing it.

don't recall right now, have to confirm with building but I believe sod is included, then if we do our landscaping within the first year, we get $500 back.

just to clarify, I'm just trying to understand what bills need to be paid every month
appliances, saving, car, insurance we've budgeted those already.

[Darkane]

200-400 every two weeks, isn't actually that bad if he included an emergency savings already into the budget.

800/mth is actually quite a bit. That's clear tax free money, which is closer to 13k/year gross.

10% savings would be 130k/year. I'm not way off here am I?

[Darkane]

OP I'd definitely go with your Frontload washer/dryer. MUCH more efficient and will save you a ton of cash over 10 years.

[s2k_boi]

I think your fence cost will highly depend on if you do it yourself or pay someone to do it and how much fencing you need etc...

Have you factored in:

RRSP
Alarm system (if you want it)
Community fees

Also does your builder include a deck?

[nhS2k]

Originally posted by sputnik
- Recycling


How does recycling work for homeowners in Calgary? I'm new to the city and rent :dunno:

[ercchry]

Originally posted by nhS2k


How does recycling work for homeowners in Calgary? I'm new to the city and rent :dunno:

comes with your enmax bill, covers your blue bin

[taemo]

Originally posted by s2k_boi
I think your fence cost will highly depend on if you do it yourself or pay someone to do it and how much fencing you need etc...

Have you factored in:

RRSP
Alarm system (if you want it)
Community fees

Also does your builder include a deck?

yes RRSP gets automatically deducted from my paycheck so I never have to worry contributing on it.

alarm system.. still debating whether to get one or not.

community fees, we have a community fee but it's really small, i cant remember right now but i think 75$ per year. this is up in Skyview

[flipstah]

Originally posted by Darkane
OP I'd definitely go with your Frontload washer/dryer. MUCH more efficient and will save you a ton of cash over 10 years.

How is that?

Random: ours is topload and I love it because of the ability to soak whites.

Also, most of those you can bundle and save. :thumbsup:

[schocker]

Originally posted by flipstah


How is that?

Random: ours is topload and I love it because of the ability to soak whites.

Also, most of those you can bundle and save. :thumbsup:
They use less power and water :dunno:
Very minimal amount of water but you can't soak, dont know if there are newer top load ones that are better or not.

[taemo]

Originally posted by schocker

They use less power and water :dunno:
Very minimal amount of water but you can't soak, dont know if there are newer top load ones that are better or not.

didn't know that, thanks for the info shocker and Darkane:thumbsup:

[max_boost]

I use to think having to support a gf drove my expenses through the roof but I find being single is way fucking worse. Gone are the nights of chilling at home, watching a movie, home cooked meals, house cleaning etc. I find myself hitting the town every fucking night and outsourcing everything from cleaning to landscaping. FML on this one. Need to find a girl to lock me down. /irrelevant rant.

[Disoblige]

Originally posted by max_boost
I use to think having to support a gf drove my expenses through the roof but I find being single is way fucking worse. Gone are the nights of chilling at home, watching a movie, home cooked meals, house cleaning etc. I find myself hitting the town every fucking night and outsourcing everything from cleaning to landscaping. FML on this one. Need to find a girl to lock me down. /irrelevant rant.
Haha max_boost, I think regardless of gf or not, your expenses will still go up the roof! You'll just be hitting the town with your girl now :bigpimp:

[Tik-Tok]

Originally posted by max_boost
Need to find a girl to lock me down. /irrelevant rant.

G/f's are cheaper than call-girls, wives aren't :rofl:

[ercchry]

Originally posted by max_boost
I use to think having to support a gf drove my expenses through the roof but I find being single is way fucking worse. Gone are the nights of chilling at home, watching a movie, home cooked meals, house cleaning etc. I find myself hitting the town every fucking night and outsourcing everything from cleaning to landscaping. FML on this one. Need to find a girl to lock me down. /irrelevant rant.

GF vs expenses goes up and down. i think throughout a relationship is ends up costing more to have one. what you need is a female roommate :bigpimp: she pays YOU to live in the house and cleans and what not, and you can spend time together just hanging out.

[interlude]

Originally posted by max_boost
I use to think having to support a gf drove my expenses through the roof but I find being single is way fucking worse. Gone are the nights of chilling at home, watching a movie, home cooked meals, house cleaning etc. I find myself hitting the town every fucking night and outsourcing everything from cleaning to landscaping. FML on this one. Need to find a girl to lock me down. /irrelevant rant.

http://1.bp.blogspot.com/_a_x3Wx7vxZg/TDSl-yk_9mI/AAAAAAAABRg/AUjXblYm0GY/s1600/kim_chi.jpg

just sayin...

[rage2]

Originally posted by max_boost
I use to think having to support a gf drove my expenses through the roof but I find being single is way fucking worse. Gone are the nights of chilling at home, watching a movie, home cooked meals, house cleaning etc. I find myself hitting the town every fucking night and outsourcing everything from cleaning to landscaping. FML on this one. Need to find a girl to lock me down. /irrelevant rant.
haha, I blew $20k a month at my peak in my single days. Well worth it tho, I was making up for lost time! But ya here's a tip, you can save some money by hiring a live in maid.

[max_boost]

Interlude you are a lucky man! Well I will openly admit that I had it all/good once upon a time but you know live and learn I only have myself to blame.

Anyway, now that this thread is detailed, live in maid? This isn't HK man lol yea my expenses in the past 6 months has been quite :eek: but not rage2 levels obviously but definitely has been good times haha

[bitteeinbit]

How much do the cheapest (liveable) rents go for in Calgary? Say rent a room with some Filipinos in Chinatown or something...

[interlude]

Originally posted by max_boost
Interlude you are a lucky man! Well I will openly admit that I had it all/good once upon a time but you know live and learn I only have myself to blame.

Anyway, now that this thread is detailed, live in maid? This isn't HK man lol yea my expenses in the past 6 months has been quite :eek: but not rage2 levels obviously but definitely has been good times haha

haha thanks man. I just couldnt resist. Just seal the deal already, wouldnt be too hard to turn a girl into a live in maid :thumbsup:

[benyl]

Originally posted by max_boost
I find myself hitting the town every fucking night

I really hope that you are using your macking skills every night to seal the deal rather than having a sausage fest and hanging out with a bunch of men playing CCR.

[lint]

Originally posted by benyl
I really hope that you are using your macking skills every night to seal the deal rather than having a sausage fest and hanging out with a bunch of men playing CCR.

:rofl:

[max_boost]

:nut:

[CapnCrunch]

Originally posted by Sugarphreak


Are the window coverings, W&D and sod included? With your average builders they are usually extra. Those are faily big ticket items; my current house was about $4000 for blinds and we did it the cheap way though blinds.ca to save big bucks otherwise we would have been closer to $7000.





I did blinds in my last place from sears for under $1000. It's pretty easy to do yourself. 6 screws and you're done a window.

[Sugarphreak]

...

[benyl]

I did 24 windows myself... haha, that was fun.

[Sorath]

Originally posted by max_boost
I use to think having to support a gf drove my expenses through the roof but I find being single is way fucking worse. Gone are the nights of chilling at home, watching a movie, home cooked meals, house cleaning etc. I find myself hitting the town every fucking night and outsourcing everything from cleaning to landscaping. FML on this one. Need to find a girl to lock me down. /irrelevant rant.

Only because youve been losing alot in CCR.... hahaha

[Sorath]

Originally posted by interlude


http://1.bp.blogspot.com/_a_x3Wx7vxZg/TDSl-yk_9mI/AAAAAAAABRg/AUjXblYm0GY/s1600/kim_chi.jpg

just sayin...

:rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl:

[guessboi]

Originally posted by max_boost
I use to think having to support a gf drove my expenses through the roof but I find being single is way fucking worse. Gone are the nights of chilling at home, watching a movie, home cooked meals, house cleaning etc. I find myself hitting the town every fucking night and outsourcing everything from cleaning to landscaping. FML on this one. Need to find a girl to lock me down. /irrelevant rant.

You got that right. and once you have kids...you ain't going any where. :nut:

[flipstah]

I'm doing the math right now to figure out whether to go townhouse with an attached garage or a duplex with garage.

What do townhouse fees cover?

[ercchry]

Originally posted by flipstah


What do townhouse fees cover?

shoveling... exterior upkeep... garbage, aka shit all

[flipstah]

Originally posted by ercchry


shoveling... exterior upkeep... garbage, aka shit all

Oh. Never mind then haha.

Anyone care to share expenses besides mortgage for a single person in Calgary with a house (not a condo or townhouse)?

Trying to determine my budget and my parents are of no help because it's 4x. :rofl:

[ercchry]

lucky you! i've lived in a new duplex... 1400ish sqft... 2 people (which i highly recommend a roommate for a single person)

property taxes: ~$50/month/$100k value

utilities: easymax, heat at 21 when int he house, 18 when at work or sleeping, ~$275 average (more in winter, less in summer)

insurance: expect ~$1000/year now thanks to the floods

dont buy the life insurance that is offered with your mortgage, it sucks, and i bet you have something through work already

then yeah, depends on the age of things around your house... but you should stash away a bit for savings for the things that wear out (hot water tank, furnace, roof, etc) ie. parent's 06 build house just had to get a new hot water tank... which is ~$1200

then you also need the cash for all of your "i just moved out and dont own anything" purchases... furniture, cookware, lawnmower, etc

oh, and ~$1500 for lawyer fees, $500 for home inspection, etc, etc

[flipstah]

Is that insurance for house AND car or just the house?

Furniture and shit shouldn't be an issue. I'll just raid my parent's place and they can buy new shit. :rofl:

Closing costs have been taken into account already.

[ercchry]

just house... but you should get a new discount on the car

[n1zm0]

Originally posted by flipstah
Furniture and shit shouldn't be an issue. I'll just raid my parent's place and they can buy new shit. :rofl:


This is exactly what happened for me, my mom had tons of cutlery and such stashed over the years from impulse buying, it was a shopping spree of stuff that was always just there in the basement, Then bargaining for which pots and pans I could or couldn't have. :rofl:

But you end up buying tons of stuff anyways, it will happen. It's like doing an engine swap, you think you have everything, then you realise you need this and that, could use this just in case etc. All in time though I guess.


Originally posted by flipstah
What do townhouse fees cover?

For mine they do:

Snow removal, lawn mowing, general upkeep of the building exterior structure including roof problems (excluding windows this year), water bill.

We are a self-managed voluntary condo board though, so that might make a difference, good reserve fund and fees have dropped in the past 3 years. I have no idea what kind of extra fees happen when it's run by a management group.

Look at the board's Reserve Fund and special assessments (if any) especially when/if you review the condo docs, should give you a good idea of if you want to avoid the place or not.

[max_boost]

Originally posted by flipstah
I'm doing the math right now to figure out whether to go townhouse with an attached garage or a duplex with garage.

What do townhouse fees cover?

Like what I told sexualbanana, keep it simple.

Take your mortgage, double it, and that will cover everything. Whatever is left over end of the year, pay down mortgage. If doubling it doesn't work you can't afford it son.

[Tik-Tok]

Originally posted by max_boost


Like what I told sexualbanana, keep it simple.

Take your mortgage, double it, and that will cover everything.


That seems about right for our expenses. Two people though, and a hell of a lot of wasted energy in this house.

Fish tanks, terrariums, lights being left on all day, 1950's insulation, detached heated garage, hot tub, etc. etc. etc.

[HiTempguy1]

Originally posted by max_boost


Like what I told sexualbanana, keep it simple.

Take your mortgage, double it, and that will cover everything. Whatever is left over end of the year, pay down mortgage. If doubling it doesn't work you can't afford it son.

About 90% of homeowners couldn't buy a place if this were the case. I think this is an unreasonable expectation.

[BrknFngrs]

Originally posted by max_boost


Like what I told sexualbanana, keep it simple.

Take your mortgage, double it, and that will cover everything. Whatever is left over end of the year, pay down mortgage. If doubling it doesn't work you can't afford it son.

For a high-level estimate this is pretty much spot on I'd say.

[max_boost]

Considering flipstah is driving Golf R, quite the foodie, travels, snowboards etc. I'm sure if he really needed to cut back cause he can't meet his utility/insurance etc bill payments he can gladly give up one of the above. But if he wants to maintain his current lifestyle he better simply just double it up. Budgetballer tells him to just extend his amortization to the max. haha

[flipstah]

Originally posted by max_boost
Considering flipstah is driving Golf R, quite the foodie, travels, snowboards etc. I'm sure if he really needed to cut back cause he can't meet his utility/insurance etc bill payments he can gladly give up one of the above. But if he wants to maintain his current lifestyle he better simply just double it up. Budgetballer tells him to just extend his amortization to the max. haha

Oh yeah, I may have to trade down or buy small. Doing the math right now is highly depressing :rofl:

[max_boost]

Originally posted by flipstah


Oh yeah, I may have to trade down or buy small. Doing the math right now is highly depressing :rofl:

Budgetballer suggests you get a roommate lol

[flipstah]

Originally posted by max_boost


Budgetballer suggests you get a roommate lol

Budgetballer has brother but he cheap. :rofl:

[mrsingh]

Hey Flip, I have calculated that is costs ~$3,000 a month to live in my house on average.

This cost is for an eight year old 2000sqft detached house and a family of three living it.

It includes:
- Mortgage & Property Tax
- Electricity
- Water/Sewer/Recycling
- Natural Gas
- House Insurance
- Internet/TV
- Alarm Fee
- Community Association Fees
- Lawn Treatment

Groceries, Car related costs, RRSP's, personal savings and spending, entertainment, travel, etc. are all extra.

We also are just about finished developing our basement. I expect that once the TV is mounted, fireplace is in use, along with the bar, some of those utility costs along with the property taxes are going to go up.

[flipstah]

Originally posted by mrsingh
Hey Flip, I have calculated that is costs ~$3,000 a month to live in my house on average.

This cost is for an eight year old 2000sqft detached house and a family of three living it.

It includes:
- Mortgage & Property Tax
- Electricity
- Water/Sewer/Recycling
- Natural Gas
- House Insurance
- Internet/TV
- Alarm Fee
- Community Association Fees
- Lawn Treatment

Groceries, Car related costs, RRSP's, personal savings and spending, entertainment, travel, etc. are all extra.

We also are just about finished developing our basement. I expect that once the TV is mounted, fireplace is in use, along with the bar, some of those utility costs along with the property taxes are going to go up.

I can afford all that if I didn't have the car. The car is absorbing the float to make life comfortable.

Damn you, finance! :banghead:

[G]

Hey Flip, I have calculated that is costs ~$950 a month to live in my house on average.

This cost is for an 12 year old 2150sqft detached house and a family of 4 living it.

It includes:
- Mortgage = $0
- Property Tax = $300
- Electricity/Water/Sewer/Recycling = $250
- Natural Gas = $150
- House Insurance = $75
- Internet/TV = $150
- Community Association Fees = $10


Groceries, Car related costs, RRSP's, personal savings and spending, entertainment, travel, etc. are all extra.

[flipstah]

Originally posted by G
Hey Flip, I have calculated that is costs ~$950 a month to live in my house on average.

This cost is for an 12 year old 2150sqft detached house and a family of 4 living it.

It includes:
- Mortgage = $0

Groceries, Car related costs, RRSP's, personal savings and spending, entertainment, travel, etc. are all extra.

:thumbsup:

[mrsingh]

Originally posted by flipstah


I can afford all that if I didn't have the car. The car is absorbing the float to make life comfortable.

Damn you, finance! :banghead:

House before car man, come on!! When we bought our first house we had a '92 Integra and a Pontiac Vibe.



Originally posted by G
It includes:
- Mortgage = $0

Damn you mortgage, working on paying it off!

[max_boost]

Looks like you gonna be staying home for awhile. :rofl:

[mrsingh]

Your eating out budget is going to have to drop too, you will be like me, looking for deals eating at Chinese buffets near Quarry Park. :D

[flipstah]

Originally posted by mrsingh


House before car man, come on!! When we bought our first house we had a '92 Integra and a Pontiac Vibe.



The car is so much fun though! I regret nothing.


Originally posted by max_boost
Looks like you gonna be staying home for awhile. :rofl:

Fuck it, looks like I'm renting. :rofl:

[Disoblige]

If you didn't buy a place before spending it on a car, I'd highly suggest not renting if you have a place to stay unless you really need your own space. It's just going to delay your home buying even further. That is also assuming you're trying to put down a decent chunk down for your down payment as well (15% minimum, ideally 20% or more).

And if you're financing the Golf R, well.. I don't know what to say except either sell the car or live at home for longer. You wouldn't want to put down a low down payment AND finance a car either. That's just crazy.

[flipstah]

Originally posted by Disoblige
If you didn't buy a place before spending it on a car, I'd highly suggest not renting if you have a place to stay unless you really need your own space. It's just going to delay your home buying even further. That is also assuming you're trying to put down a decent chunk down for your down payment as well (15% minimum, ideally 20% or more).

And if you're financing the Golf R, well.. I don't know what to say except either sell the car or live at home for longer. You wouldn't want to put down a low down payment AND finance a car either. That's just crazy.

Oh yeah, for sure. I like doing the math to see where I can go. I hate renting because the concept of paying somebody else's mortgage is silly (in my head). Not in a rush but prices aren't going to get any cheaper, unless O&G becomes bust then either way, I'm fucked.

There are townhouses that are way below my price range and doing the math, I can afford it while keeping my life the same. $125k makes a big difference haha.

[ArjayAquino]

Originally posted by flipstah


The car is so much fun though! I regret nothing.



Fuck it, looks like I'm renting. :rofl:

Can't say I blame you man. I sold my STi to start saving up for a house a few years ago. I have a house now but I still feel like punching myself for not keeping the STi.

[Twin_Cam_Turbo]

I know you didn't ask for townhome breakdowns but here's mine anyway:

Built last year, $257000 with 20% down so $205600 to mortgage.

Mortgage: $525 biweekly accelerated which means my amortization dropped to 21.5 years from what I gather (I could be wrong on this)
Property Tax: $160 per month
Enmax all utilities: $160 per month
Condo Fees: $155 per month
Cable/Internet: Currently free for one year, not sure how much I can expect after that year period but I would guess $150 a month.
Insurance: $200 only minor coverage was needed as condo fees also cover insurance as well in my place.

On the flipside I rent out my spare room as shared accommodations for $700 a month, which covers a good portion of my monthly home expenses.

[flipstah]

Originally posted by Twin_Cam_Turbo
I know you didn't ask for townhome breakdowns but here's mine anyway:

Built last year, $257000 with 20% down so $205600 to mortgage.

Mortgage: $525 biweekly accelerated which means my amortization dropped to 21.5 years from what I gather (I could be wrong on this)
Property Tax: $160 per month
Enmax all utilities: $160 per month
Condo Fees: $155 per month
Cable/Internet: Currently free for one year, not sure how much I can expect after that year period but I would guess $150 a month.
Insurance: $200 only minor coverage was needed as condo fees also cover insurance as well in my place.

On the flipside I rent out my spare room as shared accommodations for $700 a month, which covers a good portion of my monthly home expenses.

That's affordable in my books + car finance.

EDIT: Initially, I said no to townhomes because of the fees but it looks like it's the best option I have if I snipe at this moment.

I don't really care because I'm just after that garage.

[mrsingh]

Originally posted by Twin_Cam_Turbo
I know you didn't ask for townhome breakdowns but here's mine anyway:

Built last year, $257000

Are any of these still available? My guess is they have gone up but wouldn't mind looking at an investment property.

[max_boost]

Originally posted by flipstah


That's affordable in my books + car finance.

EDIT: Initially, I said no to townhomes because of the fees but it looks like it's the best option I have if I snipe at this moment.

I don't really care because I'm just after that garage.

It just won't be downtown. You and sexualbanana should go home hunting together. Heck maybe you guys can be roommates lol

[flipstah]

Originally posted by max_boost


It just won't be downtown. You and sexualbanana should go home hunting together. Heck maybe you guys can be roommates lol

Not living in DT isn't a dealbreaker for me haha.

[Twin_Cam_Turbo]

Originally posted by flipstah


That's affordable in my books + car finance.

EDIT: Initially, I said no to townhomes because of the fees but it looks like it's the best option I have if I snipe at this moment.

I don't really care because I'm just after that garage.

I should point out in my numbers insurance is actually $200 a year not per month for the home itself, including my two cars and townhome I pay $225 a month insurance.

[flipstah]

Originally posted by Twin_Cam_Turbo


I should point out in my numbers insurance is actually $200 a year not per month for the home itself, including my two cars and townhome I pay $225 a month insurance.

$225/mth for insurance? That's cheap from what I can see. Thanks for the clarification.

[flipstah]

So I'm really eyeing Edison at Walden because of the townhouse options and the proximity to the LRT.

I worked out a budget that has ~30% monthly income float (free money that's heading to savings which is after mortgage + misc. fees are already calculated).

Once the car is done, it's living life; living free.

Just wondering if the rest of the is feasible for myself or if I'm out to lunch:

Bus Pass: $94
Gas: $250
Taxes: $160
Utilities/Condo Fees: $200-250?
Cable: $150
Food: $300
Phone: $70
Gym: $60
Misc. $200
Insurance (Car and House): $250

[ercchry]

yeah that will probably work... but you will have to dial back being a foodie :rofl:

i know for me $300 for food isnt even enough for the week... i know, i know... but im working on it :rofl:

[flipstah]

Originally posted by ercchry
yeah that will probably work... but you will have to dial back being a foodie :rofl:

i know for me $300 for food isnt even enough for the week... i know, i know... but im working on it :rofl:

Fuck, that was a good run while it lasted :(

Snowboarding just went up on the scale so I can't have them all.

[max_boost]

Where's the dating fund or is that the misc. $200?

$300 you gonna be eating canned food. :confused: :drool:

[flipstah]

Originally posted by max_boost
Where's the dating fund or is that the misc. $200?

$300 you gonna be eating canned food. :confused: :drool:

That's the $200 misc, which is 1/x of actual cost :rofl:

Dating is expensive btw. Fml.

The food was looking light to me too. Usually, I just buy whatever when I'm hungry.

The 30% float isn't deadset but the ideal budget. I could have give and take.

[Twin_Cam_Turbo]

Id say your condo fees+utilities number is a bit low.

[flipstah]

Originally posted by flipstah
So I'm really eyeing Edison at Walden because of the townhouse options and the proximity to the LRT.

I worked out a budget that has ~20% monthly income float (free money that's heading to savings which is after mortgage + misc. fees are already calculated).

Once the car is done, it's living life; living free.

Just wondering if the rest of the is feasible for myself or if I'm out to lunch:

Bus Pass: $94
Gas: $250
Taxes: $160
Utilities/Condo Fees: $350
Cable: $150
Food: $500
Phone: $70
Gym: $60
Misc. $200
Insurance (Car and House): $250

Edited. That makes me cry a bit.

[max_boost]

Ya better stay home and cry there instead. Ain't no shame. I know some Beyond ballers who still live at home lol

[flipstah]

Originally posted by max_boost
Ya better stay home and cry there instead. Ain't no shame. I know some Beyond ballers who still live at home lol

Nah, I gotta get out of the nest. Just feels weird to be a working professional and say I still live at my parent's place.

[max_boost]

Originally posted by flipstah


Nah, I gotta get out of the nest. Just feels weird to be a working professional and say I still live at my parent's place. :thumbsup:

[lint]

Originally posted by flipstah
Nah, I gotta get out of the nest. Just feels weird to be a working professional and say I still live at my parent's place.

Just tell people that THEY live with YOU

[flipstah]

Originally posted by lint


Just tell people that THEY live with YOU

LOLOL okay. :rofl:

It's more believable if I was 30's-40's. Not 20's.

[max_boost]

Originally posted by lint


Just tell people that THEY live with YOU Ya.

I'm taking care of my parents.

My parents and I live separate lives.

They don't interfere with what I do.

It's not uncommon for 3 generations to live together.

I'm a momma's boy.

etc. haha

[lint]

Originally posted by max_boost
Ya.

I'm taking care of my parents.

My parents and I live separate lives.

They don't interfere with what I do.

It's not uncommon for 3 generations to live together.

I'm a momma's boy.

etc. haha

"Just leave your clothes outside my door, they're be washed and folded in the morning"

[flipstah]

BACK on topic!

I can live with that budget and requires strong commitment. But is it reality?

$500/mth for food is decent. I should really track what I buy...

[max_boost]

^^^

that would just make you more sad bro. how about you make more money and then don't have to cut back as much lol

[flipstah]

Originally posted by max_boost
^^^

that would just make you more sad bro. how about you make more money and then don't have to cut back as much lol

C'mon, Lotto Max! :rofl:

I may have to replace Captain Slow... :cry: :cry:

[ercchry]

why not take a dry run at it for a couple months... see if it breaks you :rofl:

[flipstah]

Originally posted by ercchry
why not take a dry run at it for a couple months... see if it breaks you :rofl:

That's what my parents said haha! You can always rent it out if it doesn't work and they're willing to help me.

I love my famjam. :love:

[max_boost]

hey man I can always use some pt help on the weekends :rofl:

[flipstah]

^ Might take you up on that offer I need to! :rofl:

[Disoblige]

flip, that means one of those months you're gonna have to starve because you'll owe me $500.

[flipstah]

Originally posted by Disoblige
flip, that means one of those months you're gonna have to starve because you'll owe me $500.

That's why the monthly float is there. :poosie:

FYI,

OKC. #1.

[diamondedge]

Originally posted by Disoblige
flip, that means one of those months you're gonna have to starve because you'll owe me $500.

Hahaha.

I too did this budgeting and I found that renting for a year with my GF to test the waters would be enough to keep us saving for a while. I went into the hole when my Matrix was written off - took a few months to start coming back. As well, with a new place, I still blow money on stuff as n1zm0 said - you just find you need stuff and you end up buying it. This first little hit of getting furniture, bedsheets, all that stuff to live, will eat a good chunk of your money.

[ArjayAquino]

Originally posted by diamondedge


Hahaha.

I too did this budgeting and I found that renting for a year with my GF to test the waters would be enough to keep us saving for a while. I went into the hole when my Matrix was written off - took a few months to start coming back. As well, with a new place, I still blow money on stuff as n1zm0 said - you just find you need stuff and you end up buying it. This first little hit of getting furniture, bedsheets, all that stuff to live, will eat a good chunk of your money.

yeah it's amazing how much you can end up spending on just random small house shit not including furniture.