Question about Baton Rouge living expenses

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For a 1800-2000 sqft home in Baton Rouge, what are some expected rough estimates on how much these things will cost per month?

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$350.00

(x 10)

It was just a question.

You didn’t but thanks!

I can getcha exterior Kevlar lining for your house for about 350.

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Water, sewage, trash?

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‘bout this high…

You are looking at $250-300 per month for a house built after 1990. Could be more for an older home if not updated. Grass cutting is around 200 per month. Landscaping maintenance is 100 per month. Pest control is 35 per month.

Kevlar vest - $350

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Looking at moving soon.

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But why?

Your timing sounds pivotal, and you are doing well to nail down your budget.

Gas, Sewer, Water and garbage/trash service will run you about $200/mo.

For a 2000 sqft home, if you are reasonably efficient, you can hold your Entergy bill to $225 a month or a little less.

Not sure of the lot size you are considering, but if at all possible, maintain your own yard. There is considerable money to be saved there.

Obviously, a wife and kids drives up expenses, as does your choice of vehicle.

Property taxes in BR are not really low, but you will have the $75K homestead exemption, which is great. Get your insurance costs nailed down in advance, as you will have to escrow taxes and insurance, which drives up your monthly note. On the plus side, you can deduct these expenses.

Budget extra and pay off your home as soon as possible. The greatest fallacy in the world is that people think they make money on home value appreciation. But that is offset by mortgage interest expenses, which are all front-loaded. So you will spend $300K on a house, pay 20% down and after all the up front costs, finance $250K.

You'll then end-up paying $568K over the term of the loan, plus the original down payment and costs, for a total of $638K.

And while property in BR does appreciate, you'd better buy in a good area that is not subject to flooding or demographic changes. Plus all the new stuff isn't very well made, and is going to be rough in 30 years. So if you have to buy an entry level home, be prepared to flip it every few years and take your profit. Even then valuation is a crap shoot. So play the long game.

My best advice is to save as much as you can as soon as you can to boost your down payment amount, buy something reasonable in a stable and nice part of town, sacrifice now to pay down your mortgage, then when you flip to a more valuable home in this nice part of town (where by now you have established yourself), every time you flip, you get to keep your profit and your pile of cash for a better down payment increases.

Try and buy close to where you work, and do your best to live small. If you are careful now and sacrifice now when you are young, you will be way ahead of the game by the time you hit 40 or so.

Remember the immortal words of Norm MacDonald: "The only thing an old man can tell a young man is that it goes fast, real fast, and if you're not careful it's too late. Of course the young man will never understand this truth."

Sorry for the long read, and best of luck to you.