As Vince and I mull over whether we really want to buy another house . . putting the numbers on paper and seeing the actual cost kinda makes me want to back away from that idea.
Remember . . this is all in MO and the cost of living is way less there than somewhere like CA so when I say “it costs a lot”, I’m saying “it costs a lot for us” while realizing these figures would be a real bargain somewhere like CA.
We have the option of renting which would be great because if Chad moves, we simply say “we’ll be gone in 30 days” and move out. But renting also puts us with very close neighbors, usually very close to a street. We’re so used to living out in the country, I know I could adjust because I’d just look at it as the cost of being near Addie. Vince . . not sure he could adjust and I don’t want to hear every day that this was YOUR idea and I never wanted to do this.
Whatever we do, we’ll be there less than half the time and that, at least in my head, magnifies the costs.
We can rent there for about $700/month – a nice 2 bedroom/2 bath duplex with a garage. I figure about $200 per month for water/sewer/electricity. There would be no maintenance, no repairs, no grass to be cut and no real estate commission to pay when we move away.
If we buy a house, I figure the costs to be about these amounts:
- property taxes – $200 (we cannot get homestead exemption since it isn’t our full time residence)
- insurance – $100 per month
- utilities – $200 (the same as an apartment probably)
- grass cutting – $75 (none in the winter but more in the summer so that’s an average)
Then take into account the money you would make on the cost of the house if you had the money invested. The houses there do not go up much in value, and then the cost of selling it when we decide to go or when Chad moves.
All this in addition to what it costs to keep the house in Texas. Vince just retired. I think I remember a budget and there was nothing budgeted for a second home.
In the end, paying $700 per rent is $8,400 for a year. One year of renting would pay for real estate commission when we sell the second place.
Then add back the cost of being able to spend more time with them. This will be the 8th Christmas we’ve spent alone. I’m ready to spend a Christmas with them. I’m ready to see Addie open her presents and see what Santa left. I want to be there for her soccer games or her recitals. I want to be there for breakfast with grandparents! To me, that’s priceless. To Vince . . another expense.
One day I’m so excited that it may all work out for us to get a place there. The next day, the numbers and “what if this or that happens” runs through my head and then I walk away from the initial plan. A friend wrote on Facebook this morning that we should do it before we talk ourselves out of it. That’s true. I’m feeling it.
We love so much about our place here but there’s so much we don’t love. I think I’m more in love with what I wanted it to be than what it is. Grass burrs have taken over the garden and they’re almost impossible to get rid of. Snakes are everywhere . . in the garden . . in the chicken coop. Plants won’t grow because of lack of rain and because of the pH of our water.
There are so many thoughts going through my head . . I think I’ll go take a nap!