Comments on: How much would it cost to own and live in a $750,000 house? http://www.vegasbubble.net/how-much-would-it-cost-to-own-and-live-in-a-750000-house Just another WordPress weblog Tue, 07 Sep 2010 01:01:10 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Marko http://www.vegasbubble.net/how-much-would-it-cost-to-own-and-live-in-a-750000-house/comment-page-1#comment-1958 Marko Fri, 05 Feb 2010 18:38:16 +0000 http://www.vegasbubble.net/how-much-would-it-cost-to-own-and-live-in-a-750000-house#comment-1958 Property taxes would be about $600/month. Homeowner's insurance would be about another $100/month. The pool could cost well over $100 per month just to heat, but if you get solar panels with an up front cost of a few thousand dollars, your energy costs would drop considerably - it may cost you nothing to heat the pool. Air conditioning obviously is a much bigger cost in the summer. Generally, you could spend about $1,000/month to live in the house without a mortgage. If someone gave you the house and you had gross income of $2,500/month ($30,000/year), you'd be able to live comfortably. To generate that kind of income in perpetuity (drawing interest but not touching the principal), you'd have to have another $750,000 in the bank. a) At 4% interest, a $750,000 account balance would generate $2,500 income per month gross interest income. After approx. 30% withholding for taxes, that would be about $1,750/month net, leaving about $750/month for food, cell phone, etc. b) If you had no interest on $750,000 and withdrew $2500/month without ever increasing the amount, it would last you 25 years, but realistically you'd have to expect to gradually increase the amount every year to account for inflation. Hope that helps. Property taxes would be about $600/month. Homeowner’s insurance would be about another $100/month. The pool could cost well over $100 per month just to heat, but if you get solar panels with an up front cost of a few thousand dollars, your energy costs would drop considerably – it may cost you nothing to heat the pool. Air conditioning obviously is a much bigger cost in the summer.

Generally, you could spend about $1,000/month to live in the house without a mortgage. If someone gave you the house and you had gross income of $2,500/month ($30,000/year), you’d be able to live comfortably. To generate that kind of income in perpetuity (drawing interest but not touching the principal), you’d have to have another $750,000 in the bank.

a) At 4% interest, a $750,000 account balance would generate $2,500 income per month gross interest income. After approx. 30% withholding for taxes, that would be about $1,750/month net, leaving about $750/month for food, cell phone, etc.

b) If you had no interest on $750,000 and withdrew $2500/month without ever increasing the amount, it would last you 25 years, but realistically you’d have to expect to gradually increase the amount every year to account for inflation.

Hope that helps.

]]> By: Professional Peon http://www.vegasbubble.net/how-much-would-it-cost-to-own-and-live-in-a-750000-house/comment-page-1#comment-1959 Professional Peon Fri, 05 Feb 2010 18:38:16 +0000 http://www.vegasbubble.net/how-much-would-it-cost-to-own-and-live-in-a-750000-house#comment-1959 Alot That's too much like work. And I don't know the name of any of the Las Vegas utility companies. Good luck with that though Alot

That’s too much like work. And I don’t know the name of any of the Las Vegas utility companies.

Good luck with that though

]]> By: G http://www.vegasbubble.net/how-much-would-it-cost-to-own-and-live-in-a-750000-house/comment-page-1#comment-1960 G Fri, 05 Feb 2010 18:38:16 +0000 http://www.vegasbubble.net/how-much-would-it-cost-to-own-and-live-in-a-750000-house#comment-1960 I'm Gary Carter, a reputable, legitimate & an accredited private money lender. I loan money out to individuals in need of financial assistance. E-mail: gcarterfunds.llc@hotmail.com I’m Gary Carter, a reputable, legitimate & an accredited private money lender. I loan money out to individuals in need of financial assistance. E-mail: gcarterfunds.llc@hotmail.com

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