Love how you are realistically creating your budget with a worse case scenario option in mind. So many people do not do that which is why they get into trouble financially. It creates peace of mind which is priceless in a worse case scenario situation. It also sets you up for success if everything goes as planned. Love that you and Carol Ann work together to reach your goals. What an awesome team!
You set a goal and achieved it. I am so proud of you both! Great way to realistically work the budget for both scenarios. Carol Ann would get unemployment, more than likely. So some of the expenses could be covered. Looking forward to seeing you guys move in next month! Have a great rest of the week!🏚
You are missing insurance! Look around now, depending on where you live it could be an expensive bill. HOA (and pest / lawn / security depending on where you are and what is included) is also missing. Also, you may want to add a house sinking fund into the bill category as it will always be needed for small things.
That is a huge jump in how much you were paying for your rent from previous times but congratulations on the new home! My kids are almost 14, 15 and 16 here in the month coming ahead! I’m trying to buy as much time as possible, because I want to downsize even more! I live in a three bedroom one bath never been updated 1953 house that I’ve been renting for over 12 years and since the Land Owner doesn’t want to sell the house, I’m hoping to go tiny! I know the smaller house the smaller bills! I’m looking at a very tiny house or literally a tiny house itself! Congratulations on your new home again! Also great budget for making sure if something would happen you’d be able to cover all the bills! I would definitely be restocking as much money as possible back into that emergency fund as well 14:05
It must be so exciting to see in black and white that you could actually afford that gorgeous house all by yourself! And just think of all those new-house-watching subscribers once you get back to posting regularly!
May l suggest you and Carol-Ann have a joint sinking fund, that's one month ahead of all total monthly expenses. You can contribute 50-50, that way you are both covered for at least the first month. If something did happen l assume there would be a severance repayment and unemployment.🏠
Just a thought. You would probably need to buy food for both of you if she was not working, so you might need to keep that in mind for your food allowance.
🏡 I would suspect you water would be higher because you'll be watering the yard & if Carl Ann's significant other moves in. So excited for you guys!! I've been a subbie from almost the beginning. Cross our fingers everything follows through 🤞 Plus I think no spending money is not realistic if you had to do this by yourself.
It’s bare bones if she wasn’t working, not meant to be long term. No idea on water. We are on a well now. She has no significant other so, non issue for the foreseeable future.
You will still have house insurance, which may be more than renters insurance. You are also not including property taxes and potentially any outside maintenance (lawn care etc)
I'm so excited and happy for you. What made you decide to move into a neighborhood/subdivision? I thought you wanted property so that you, CarolAnn and your son could all have individual homes on said property? I understand this gets you in a beautiful new home much quicker though. :)
My son won’t be ready to buy for several years. We just decided this was the right move. We can always buy rural property later for my daughter to hunt at.
Hey Lisa is your Hoa paid monthly? I’m assuming your insurance and taxes are included in the mortgage. I’m so excited for you! Also do you have a natural gas bill?
Don’t forget to budget for home maintenance. You might not need much now since it’s new, but you will want HVAC maintenance and possibly some other maintenance that you need to add to the budget. 🏠
