Know the monthly expenses of a house when living alone
Introduction
KNOWING HOW YOU WILL TAKE EVERY WEIGHT YOU ALLOCATE TO YOUR HOUSE WILL HELP YOU HAVE A BETTER CONTROL OF YOUR PERSONAL FINANCES AND TO HAVE A CALMER LIFE.
Certainly, buying a home is one of the best investments you can make, but, in order to enjoy your new acquisition without financial pressure, it is important that your personal finances are in order. How? having knowledge of the expenses that will have to own a house.
What is personal finance?
Personal finance refers to managing the income of an individual or family. Through this, expenses and profits are measured, to later organize the money and have a budget.
Having good control of expenses will help your finances to be stable and in this way you can stay debt free and also have savings that allow you to make an investment in the future.
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What are the monthly expenses of a house?
- Maintenance
- Public services
- Mortgage
- insurance
Maintenance
When you buy a house you will be responsible for covering those services that it requires to stay in good condition. For example, if painting, adjustments, or adaptations are required, you will be in charge of covering the expenses.
In addition, there are houses that are located in areas where there is a maintenance fee established by the neighbors or the administration of the place. These fees tend to be paid on a monthly basis and are intended to cover the wages of those who cut grass in common areas, security guards or those who pick up trash on the street.
Public and private services
When you buy a house, you have to pay for all the basic services, such as electricity, water and gas. Basic service rates vary by state. Approximately the basic consumption of light is at $ 0.79 pesos for each of the first 75 kWh, water at $ 14.67 pesos for consumption of 30m 3 per month and gas at $ 4.16 pesos per cubic meter.
In addition, the extra services that you want to contract and that require a monthly payment, for example, wireless internet, telephone services or satellite television packages.
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| Service | Cost of packages in pesos |
| Internet | From $ 300 to $ 600 |
| Cable TV | From $ 299 to $ 1500 |
| Telephone service | From $ 350 to $ 899 |
Mortgage
One of the main expenses that you must include in your budget is the monthly payment of your mortgage credit, it is substantial that this expense is covered month by month so as not to have debt problems that later interfere in the possession of your property.
If you have obtained a fixed-rate credit, the monthly payment will not change and it will make it easier for you to budget. If, on the contrary, your rate is not fixed, then you must include in your budget the variation according to the interest that it has. Consider that Infonavit does not allow your monthly payment to exceed 30% of your salary.
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insurance
Despite the fact that mortgage loans offer home insurance, it usually covers only the amount loaned, protecting only the creditor. That is why professionals recommend hiring insurance that complements it, so that your home is fully protected. Many times we disregard home insurance, thinking that it is not necessary, however, it is important to keep in mind that you are safeguarding your assets.
The cost of insurance varies according to the price of the house and the insurer, for example, insurance with natural disaster coverage for a house of 1,500,000 pesos is approximately 3,500 pesos per year.
Buying a house involves constant expenses, which will eventually become your assets. No matter what salary you receive, the important thing is to keep your personal finances healthy and keep good control of expenses so that you can enjoy your investment.
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