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by vsskanth 1599 days ago
So my calculation of 1600 a month includes everything except maintenance and utilities, assuming a $60 HOA.

Maintenance even if you assume $150 a month average still skews towards buying.

2 comments

Average utilities accross the US are $170 a month.

And general rule of thumb for maintenance (which includes budgeting for only occasional but large expenses like roofs, furnances, water heathers...) are between 1% of 4% of the purchase price per year. At the very low end, that's at least $300 bucks a month, at the high end that's $1200 or more per month.

So you'd be looking at $1600 + (somewhere between $500 and $1300).

At least in NYC the HOA fees can be crazy. I have seen as high as 3k/ko for a 1.25M condo