Updated - Monthly Expenses - 2kids - owning house

[Jalsa456]

39 minutes ago, Kurrodu1 said:

Recent ga parents vachi vellaru. Aa bills anni monthly average chesi chooskunna. 

Inflation increased lot of expenses. Second baby coming soon. 

2bed 2bath asalu saripotledu. illu konalsinde with 2nd baby arrival.

2nd baby tho mini van teskovali, 5 seater not enough when parents come.

4bed 3bath 2500sqft new homes costing around 650k.

Excluding Trips in USA :

India ticket    - 1000 (8tickets per year $1500 each= 8*1500/12)
Parents insurance  -  240 (2 * 120)
Mortgage  -  5000.00
Power   -  300.00
water trash bill  -   100.00
Grocery   -  750.00
Restaurants  -  500.00
Phone bill   -  100.00
Internet   -  60.00
Car EMI   -  500.00
Car Insurance  -   140.00
Car gas   -  75.00
gym   -  25.00
Misc Bills  -   500.00
Health Insurance   -  400.00
Kids daycare   -  2500.00

 

Total per month - 12190

Yearly expenses after taxes - 146280

Pichakayal pack. Single salary aithe no new construction home possible. 

Wife tho share chesa expenses, wife motivated to find job after delivery.

Don't worry that much if u worry too much can't do much in life ..rather spend energy in getting high pay job and also remember day care expenses goes away 3 to 4 yrs also if u get solar and electric car power and gas bills go away (of course u pay for electric car and solar) but again long run investmeents..if u have gc or ead u can invest into those..

 

More than worrying about expenses..put ur energy in unskilled and ear more ..these are are more or less common scenario expenses with every other family in USA ..just giving some positive opinion..

[Kurrodu1]

3 minutes ago, praying said:

uncle 2 kids unte 2 cars kavali recently bought a minivan emi is 800 per month uncle just on minivan, 2nd car is 600. Both are Honda not even luxury or high end models. You under estimated food / groceires uncle naku 1500 avutnhdi neeku asalu 750 lo ela aipotundhi?

My first car is almost paid. 2nd car mini van used car teskunta. will make it come around 500/mo.

Intlo cooking ekkuva ma intlo. so 750/mo more than enough. 

[Kurrodu1]

3 minutes ago, Sarvapindy said:

Now u understand y people doing 2,3 jobs 

I know miya. 1 or 2 yrs 2 jobs chesi house loan teeeruddam ani try chestaru

[praying]

1 minute ago, Kurrodu1 said:

My first car is almost paid. 2nd car mini van used car teskunta. will make it come around 500/mo.

Intlo cooking ekkuva ma intlo. so 750/mo more than enough. 

oh ok got it uncle, makes sense. emo uncle we also eat a lot at home even for that I spend 1500. idi varaku costco ki time pass ki kuda poyedi ippudu costco ki vellalante baam vestundhi uncle... debbaki 250-300 avtundi

[phatposts]

Good start. 

Some comments : New minivan konte Car EMI 500 kanna ekkuva avtadi, gas will be more than 75, health insurance 400 seems to be low unless your employer provides good options. 

Afford cheyyaleka pothe old build konachu kada? or as others said, rent a townhome for the time being. 

Till you are confident that the family's income can meet the expenses I would not buy a home with that kind of payment. 

 

[no01]

how about buying a 3 bed and 2.5 bath townhouse? Brand new ones are expensive now, but still single family homes kante thakkuve untai kada...or if u buy 10yrs old used townhomes, inka thakkuva untai. 350K - 450K lo dorakava mee area lo?

ippudu 5% down chesuko, couple yrs or later whenever interest rates goes down, re-finance and then future lo you can rent this house and move into single family.....investment property laaga undipothadi kada.

 

[Telugodura456]

Those who are advising rent - should take note that out of 5k he is spending on mortgage - 2.5k is savings only. There is also a chance of appreciation of property.

What nice townhouse you will get for 2.5k with 4 bdroom?

[Jalsa456]

1 minute ago, no01 said:

how about buying a 3 bed and 2.5 bath townhouse? Brand new ones are expensive now, but still single family homes kante thakkuve untai kada...or if u buy 10yrs old used townhomes, inka thakkuva untai. 350K - 450K lo dorakava mee area lo?

ippudu 5% down chesuko, couple yrs or later whenever interest rates goes down, re-finance and then future lo you can rent this house and move into single family.....investment property laaga undipothadi kada.

 

High hoa costs and HOA restrictions and lot of issues with townhomes..unless retired or too early in career don't go for townhouse not worth it..based lot of ppl experience 

[BMDablu]

14 minutes ago, no01 said:

how about buying a 3 bed and 2.5 bath townhouse? Brand new ones are expensive now, but still single family homes kante thakkuve untai kada...or if u buy 10yrs old used townhomes, inka thakkuva untai. 350K - 450K lo dorakava mee area lo?

ippudu 5% down chesuko, couple yrs or later whenever interest rates goes down, re-finance and then future lo you can rent this house and move into single family.....investment property laaga undipothadi kada.

 

yes its a good idea especially if it is a first buy

elago rates ippudapude taggav

so buy town home enjoy for few years and once u have 2 kids appudu u feel like having a 4 bedroom house.. then buy SFH and rent this townhome

 

[pandu123b]

45 minutes ago, Kurrodu1 said:

Full time ki ma company lo 200 per paycheck cut avtundi. Company benefit anuko.

contracting insurance rate’s different from full time ba.. hope you know it.

i pay $300 for 2+1 monthly and also get $1500 HSA employer contribution.

all benefits of FT!

@DJBravo

Edited May 4, 2023 by pandu123b

[Telugodura456]

but it is shocking how prices increased. 10 years ago it was possible for a family to live on 85k if they saved enough for a 20 percent deposit on 400k house.

Now  146k expenses ante minimum 180k salary undaali for taxes gatra

[Kurrodu1]

4 minutes ago, Telugodura456 said:

but it is shocking how prices increased. 10 years ago it was possible for a family to live on 85k if they saved enough for a 20 percent deposit on 400k house.

Now  146k expenses ante minimum 180k salary undaali for taxes gatra

230k total compensation comes around - 160k after taxes.

180k ki emostadi boodidha - probably 135k after taxes.

[Android_Halwa]

1 hour ago, Kurrodu1 said:

Recent ga parents vachi vellaru. Aa bills anni monthly average chesi chooskunna. 

Inflation increased lot of expenses. Second baby coming soon. 

2bed 2bath asalu saripotledu. illu konalsinde with 2nd baby arrival.

2nd baby tho mini van teskovali, 5 seater not enough when parents come.

4bed 3bath 2500sqft new homes costing around 650k.

Excluding Trips in USA :

India ticket    - 1000 (8tickets per year $1500 each= 8*1500/12)
Parents insurance  -  240 (2 * 120)
Mortgage  -  5000.00
Power   -  300.00
water trash bill  -   100.00
Grocery   -  750.00
Restaurants  -  500.00
Phone bill   -  100.00
Internet   -  60.00
Car EMI   -  500.00
Car Insurance  -   140.00
Car gas   -  75.00
gym   -  25.00
Misc Bills  -   500.00
Health Insurance   -  400.00
Kids daycare   -  2500.00

 

Total per month - 12190

Yearly expenses after taxes - 146280

Pichakayal pack. Single salary aithe no new construction home possible. 

Wife tho share chesa expenses, wife motivated to find job after delivery.

India tickets and kids day care, renditlo edo okati compromise…parents are here then no need for the day care. 

[Telugodura456]

3 minutes ago, Kurrodu1 said:

230k total compensation comes around - 160k after taxes.

180k ki emostadi boodidha - probably 135k after taxes.

200k is the new 100k. six figure salary ante 200k nunchi start avvalil

[Telugodura456]

2 minutes ago, Android_Halwa said:

India tickets and kids day care, renditlo edo okati compromise…parents are here then no need for the day care. 

bathrrom lo lepesthe inka savings mee kasai batch ki.