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Thread: here's the deal

  1. #1
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    Default here's the deal

    DF and I are renting a house in Dorchester , it is a 2 story house that has been reno'd completely since nov last year , and we are getting a GREAT deal we pay her mortgage ($1175/month) plus our util. until we can get our own mortgage to buy the house from her. we have been renting all inclusive . and i am not sure how much utilities are .. can anyone give me a clue.. so i can budget.. or any tips on saving on utilities .......thanks



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    Unfortunately our old house isn't a good comparison since it was 99 years old and not very energy effecient. Our hydro/water was approximately $100 a month but the gas would range from $35 in the summer to up to $300 per month in the winter. Old house though so probably you're place wouldn't be as bad.
    Mommy to three adorable kids!

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    it is an older house but its been renovated .. but that sounds reasonable i was thinking more



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    I agree with PP, maybe a little more on hydro.
    Will you also have to pay the property taxes? That could be a couple of hundred a month too.

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    we are sitting down tomorrow with the numbers i am almost certain that 1175 is with principal , taxes and interest



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    It's going to depend on the style and layout of the house, the age of the house, if there is anything you can do or the landlord will do to make it more 'energy efficient' such as newer windows, doors, siding (if any), hot water tanks, adding in more insulation, newer furnace and air (if any), etc.
    I live in a 19 year old 4 level backsplit and we were paying about $100-$140/month hydro (we just updated our furance and air though so may see a drop in that). Our largest portion of our hydro bill is the water here in London.
    Our Union Gas bill varies and is much cheaper in summer $35/40-upwards.
    We are not on equal billing, as we haven't lived here for an entire year yet. Furthermore, the bills I mentioned are based on a older furnace and central air conditioner not our new units. Once we have lived here a few more months, we plan on going on equal billing, as it can mekae budgeting a whole lot easier and you know each month exactly how much those bills will be.
    I recommend you might want to look into the equal billing. How exciting for you though. Good luck with everything!

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    its forced air... not electric heat , i love drying clothes on a clothes line but in an apt thats a no go , i am going to get the taxes put in with the mortgage its an amazing house and a huge lot the back yard alone is over 200 feet by about 30 -40 feet . the hot water tank is paid for and new same with the furnace.the house is comming with a washer and dryer, fridge and stove , a patio set ( really nice) and possibly a dinning room set and maybe other things. you walk in and to your left is a 4 pc bathroom and to your right is the living room and you can either walk up the stairs or down a hall to the kitchen , it is huge it has a 6 person table in it and still has enough to walk in , off that is the dinning room that is attached to the kitchen . off the back of the kitchen is a mud room and laundry room . if you go up the stairs off the front foyer there are 2 bedrooms on the right and one on the left and a 2 pc bath in front of you , like its not a "dream " house but i love it


    what happend is that Df's friends neighbours split she bought this house last nov and it had major repairs to do so her ex helped her get the house so her and her kids could live there the redid the Kitchen both bathrooms , the living room , put a new hot water tank and furnace in , re-insulated the walls and roof , basically they did all this work so it would be cheap for her and the kids to live in , now they are getting back together and he owns a brand new house , so they really want to sell it but are willing to rent to us until we can get approved for a mortgage because i just consolidated so i can build up my credit.

    but i figure DF has a ride from his friend to work ( so i dont have to drive him ) and i am closer to my parents house where Logan will be going when i go to work . i can park at my parents house and then get a ride to work no cost for parking down town . we can have satellite from my parents they have many receivers and a dish for us cost $10 a month instead of 40+ for cable, and i will back to work when we move so double what i am making now

    so if i safely say 100-150/month hydro and water
    40 Union Gas ,
    and if i have to pay taxes just budget for that
    $10 for tv,
    $65 for phone and internet together
    so about another 200+1175 rent =1375/month +200 groceries +104 insurance+145 loan +150 gas =1974 and i make 2000 a month and DF makes1600 a month take home we should be ok?



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    I have no advice as we are all inclusive, but why is your tv only $10 a month?

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    we can have satellite from my parents they have many receivers and a dish for us cost $10 a month instead of 40+ for cable thats all they would charge us



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    Will this person sell you the home and hold the mortgage (which is basically what you are doing ) but you own the home???
    Just something to think about,.

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    I did what you are doing before we moved into our place (budgeted) BUT, there is ALWAYS something that came up that I didnt account for. Its great you both work so you have money to work with when things arise (different times of year/emergency expenses, random charges etc...) Its annoying how much it costs to live! lol Congrats on the house though- thats great!

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    We're on a budget for gas, so it's an even $120 per month all year... and hydro is usually around $120 as well (100 year old house with gas fireplace and central air). It's best to chuck an even amount every month aside towards gas/hydro regardless if you need it that bill or not (higher hydro in summer, higher gas in winter, usually).

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    well she brought her number in for her utilities and i figured we could do it... but she just called me today asking if we could buy it now instead of later cause she has to pay come contractors out of the sale of the house we told her that we couldnt buy anything for at least 6 months , so she said she would talk to her husband and call me back ... now i think that there is no way she is going to do this now and that means no house for us... why do i always get excited and loose out on things like this ... THIS SUCKS



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    Oh, I hope it works out for you guys. Anytime something doesn't work out the way I had hoped I always tell myself that it means that something better is coming my way.

    Sorry for the useless platitude! I do believe it though...

    Cathy

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    so i am not holding my breath and i stared looking and found something that looks better and they want to do everything "legal" so they are drawing up the papers tomorrow and should have things signed by the end of the week... YAY here is the MLS listing cause they were going to sell but couldnt and would rather rent to own then wait ... so heres hoping and its $145 less the then one in dorchester and its 4 blocks away from my parents house MLS listing



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