How long to stabilize budget in new house?

[melodys]

Moving from an apartment to a house is killing my budget. Everything from equipment to tend the large yard (better than paying for a service forever), to repair people to fix things that urgently need attention, to bigger utility bills.

I moved in just a few weeks ago, but this financial chaos is already getting old. How long does it typically take to stabilize into a new budget?

[skybluepink79]

once the repairs are done not long. sit down and figure out what else you need for equipment and start looking around maybe used to save some money. some of it may be able to postpone for a little bit. the utility bills will even out once the repairs are done and you don't have all the power tools etc running. around here you can often get what the bills were from the previous owners to get an idea especially help with the heating bills if they remember what they had the thermostat set at.

[nuisance26]

~With our first house it happened somewhere in the second year living there. The bills settled down to pretty much just what it took to keep the place going. And at that point I was also able to switch providers for things like utilities and insurance so we made a pretty big leap into comfortable sometime around the fourth year.
That first year was rough though. I'm bracing for it with the house we're purchasing now. Right off the bat we need to purchase a counter depth fridge and replace the 5 gallon toilets. The windows should be replaced ASAP too. DH and I want a hot tub(and we have the money saved for it)but I'm holding off until Spring to see what our month to month bills are without it. I know how much more it takes to keep the tub and I want to be sure we have enough wiggle room to afford the luxury. It's whole new territory with the house being all electric except a fireplace downstairs(also new to us)and propane stove upstairs(also new to us). I simply have no idea what our expenses will be until we move there.
There's such a big learning curve with homes over apartments/rentals. Pride of ownership is worth it though. In a couple years you will know every inch of your new place like your favorite toy you had as a kid. Soon it won't feel like "things you have to fix" but "fun improvements I get to make". Hang in there!~

[Contrary Housewife]

I would think a couple of months after the initial chaos. But remember to have a few hundred in the EF for household repairs after that. Just because the AC is running fine now doesn't mean it will be in 6 months or that you won't discover a leak during the next heavy rain storm, or that a neighbor kid won't put a baseball through the livingroom window. I think your EF for the house should be about the same as your deductible.

[melodys]

Sounds like it is somewhere between two months and two years. I hope it is closer to the two months

Right now I have two medium size repairs pending and and handful of little things. There is also a pile of mulch I am slowly wheelbarrowing from my driveway to the back yard. I am hoping it settles down somewhat after that. There is a lot of stuff I want to do, and for now I will be happy to be done with the "have to do" stuff. The A/C is ancient, but I don't think I will replace it when it dies. In this area we only need it about 3-4 days of the year and it just is not worth it.

My kids are graduating from HS and college this year and moving forward with their lives, and I am taking a four month long professional development class. So with all the change and chaos and I feeling overwhelmed. The budget is there to handle this, but my nervous system is another matter. Maybe I just needed a hug.

[ARCMOMMY]

I say the 2nd year.

[Telephus44]

I think it took about 3 months to get most of the "we need curtains" "we need a lawn mower" "we need a shelf to put up in the bathroom" kind of stuff out of the way, but it took a year to get used to how the bills went. Things like electricity usage and stuff fluctuate throughout the year, so it took a full year to be able to get a hold on those kinds of things.

[Libby]

The bulk of the shock and spending is usually during the first 6-8 months buying things you need to maintain a home as well as how much you're willing to put up with until you can properly afford things.

Some people are willing to live in construction zones using bedsheets/beach towels for window & floor coverings.

I think it all boils down to personal choice and how many "what if's" you've got factored into your budget.

[miss_cas]

Honestly, the biggest help initially is to spend on nothing except the stuff to make the housing situation work - minimalistic yard tools, kitchen stuff and snow shovel if you live in cold climate. Do not spend on anything else unless something quits and must be replaced -- like computer or tv. Even these items are optional for some. Use all your frugal skills to minimize household expenditures -- shop food sales flyer, dollar store toiletries/cleaning/food/misc, Aldi's is great...eat at home. I would make exception for kids school supplies as purchasing a whole year of stuff during the sales is totally worth the money.

Get to your baby emergency fund of $1k. Then I would start in on any of the small stuff the home inspection found that could bite you if ignored -- roof issues, electrical, drainage or plumbing. Whatever inspector told you not to ignore. Do whatever you are capable of handling and make a relaible list of contractors for rest by asking friends, family and coworkers.

When you have been in the house for a year, switch the utilities to average billings so the bill amounts are the same each month.

The BIGGEST MONEY MISTAKE people with new homes make is to charge a bunch of furniture and accessories and make payments on it. You are putting in a bunch of money and interest into something frivilous when something more important may come up and you need cash (car prob, household repair, pets). Let rooms sit empty until you can pay cash to furnish and outfit it. I would make exception for beds and couch but kids could be told it's a campout and they won't complain... for someone older you may have a back lockup because of bad bed...charging it may be necessary.

[miss_cas]

I'm sorry about the 'needs'. I just watched a friend handle it this way on her new home. It was her first home by herself in which she planned to move her significant other. She decorated it from top to bottom on credit. Situation with significant other moving in was delayed, perhaps permanently due to the stress, now she can barely make the bills. Luckily her employer has been offering a lot of overtime.

I see nothing wrong with Goodwill $1 sheets over windows hung up with duct tape until you can afford to pay cash. It looks okay from the street so home owner assn won't be breathing down your neck. I put up newspapers over windows in my little town (NO HOA) until I got enough blinds to cover all the windows. Installed blinds in front of house first, of course.

You know your spouse's tolerances and when he will start to whine.

[melodys]

Thanks for the additional advice. Fortunately I have no one to answer to on the house and budget except myself so that makes changing things easy.

Taking a deep breath and being really honest with myself on my spending. I realize now that a good portion of my spending has been on "wants." Things that I had been putting off and not doing (like going out to eat, buying clothes, and a buying few decor items) while I was saving for the house and that has not been helpful for the budget.

I have an EF and I draw the line at using credit. What has been evaporating is the extra that I had intended for savings and to pay off the last of my existing debt. I am getting to the bottom of my Home Depot shopping list and I have two medium size repairs that I want to do before winter sets in. The end of the worst of this is in sight and I just have to keep myself honest and back on the budget. I do see now that I will need a "house stuff" budget line item on an ongoing basis, so I will make the necessary adjustment for that.