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Monthly Expenses Including Mortgage

kpny622 Posted:

Monthly Expenses Including Mortgage

For anyone who already owns a home on LI and wants to answer...we are trying to plan our budget. Thanks!

DjPiLL Posted:

Re: Monthly Expenses Including Mortgage

This is an impossible question to ask others.

Everyone's budget is different. People get different paychecks, have different bills to deal with, different sized mortgages, varying property taxes based on county, etc.

The best thing for you to do is sit down with your significant other and work out a budget that fits YOUR needs.

Figure out how much of a mortgage you will have. Use one of the mortgage calculators to approximate your monthly payment. Find out how much taxes will cost you per month (or per quarter). Then add up all your bills and leisure expenses and make a budget.

Thats the best way. I can tell you I am in the $3000-4000 range... but then again I only have a 150k mortgage with a few other loans to deal with. This information really won't help you.

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