Question for Homeowners??

HI,
We are getting ready to buy a house and when itis all said and done each month we will probably only have like 600 to spare for food and odds and ends. This amount is what is left after we pay all teh bills. Does that sound like we are in over our heads???

Re: Question for Homeowners??

Do you have a savings that you could fall back on god forbid of anything? $600 is not a lot but if it's after all the household bills and daily expenses (transportation/lunches etc) it probably would be ok.

ETA: I just re-read your post...the $600 is before some of the bills (food shopping costs me about $300 a month! there are only 2 of us) - it's going to be pretty tight.

Re: Question for Homeowners??

Have you included all your bills (taxes, insurance, gas, electric, telephone, cable, etc..) before having hte $600 left? What about transportation costs like train passes and car insurance and car maitanience?

Assuming all of that is not being paid for out of your $600, i think it can be done if you are careful about your meal planning and limit eating out strictly and any extra expenses.

Although i think it will be difficult. When i first moved into my home i couldnt believe how much 'real life' costs. Things are just a fortune!

Re: Question for Homeowners??

thanks!
That includes everything except food. So I guess we will be on strict diets till after the wedding.

Re: Question for Homeowners??

Also i would strongly recommend having a few thousand emergency fund. YOu never know when a pipe might break or the roof will start leaking or any number of things that can go wrong.