Notifications
Clear all

Getting to the vi

Page 2 / 2
 
STTsailor
(@STTsailor)
Trusted Member

Let's do a budget for two adults:
Rent and utilities 2000
Dock fees for boat 1000
Groceries and household items 1000
Gas and car insurance 200
Health insurance priceless.

And here we arrived at +$50K budget for two.

ReplyQuote
Posted : June 15, 2016 11:53 am
Spartygrad95
(@Spartygrad95)
Trusted Member

Let's do a budget for two adults:
Rent and utilities 2000
Dock fees for boat 1000
Groceries and household items 1000
Gas and car insurance 200
Health insurance priceless.

And here we arrived at +$50K budget for two.

Not paying anywhere near that for rent.
No boat
Groceries are about right
Gas and insurance about right
Our health insurance is from work
We also have daycare, car payment and wife's student loans to add to that.

ReplyQuote
Posted : June 15, 2016 12:07 pm
Gator's Mom
(@gators_mom)
Trusted Member

Let's do a budget for two adults:
Rent and utilities 2000
Dock fees for boat 1000
Groceries and household items 1000
Gas and car insurance 200
Health insurance priceless.

And here we arrived at +$50K budget for two.

Not paying anywhere near that for rent.
No boat
Groceries are about right
Gas and insurance about right
Our health insurance is from work
We also have daycare, car payment and wife's student loans to add to that.

For 2 adults:
Housing cost $500 (tax, insurance only)
Groceries $800
Communication (internet, cell phones, Roku) $250
Health Insurance $800
Car $200
Misc. $1200

$3,525 per month bare minimum

No WAPA - we have solar

ReplyQuote
Posted : June 15, 2016 3:10 pm
OldTart
(@the-oldtart)
Expert

Gator's Mom, I thought you hadn't yet moved here so these are guestimates based on visits?

ReplyQuote
Posted : June 15, 2016 3:18 pm
Gator's Mom
(@gators_mom)
Trusted Member

Gator's Mom, I thought you hadn't yet moved here so these are guestimates based on visits?

All costs are accurate

except guestimates for groceries and misc. but based upon ongoing experience, living and such, I think are within range.

🙂

ReplyQuote
Posted : June 15, 2016 3:45 pm
OldTart
(@the-oldtart)
Expert

Accurate for your particular circumstances and of course these are widely disparate. Your $500 housing cost is unrealistic for anybody who doesn't own their home outright and of course doesn't include utilities which are relevant to most. Car only $200? Assume that's an outright purchase too and covers gas and insurance but not maintenance and repairs. Just trying to put things into perspective for those thinking of moving here.

ReplyQuote
Posted : June 15, 2016 4:02 pm
Gator's Mom
(@gators_mom)
Trusted Member

Accurate for your particular circumstances and of course these are widely disparate. Your $500 housing cost is unrealistic for anybody who doesn't own their home outright and of course doesn't include utilities which are relevant to most. Car only $200? Assume that's an outright purchase too and covers gas and insurance but not maintenance and repairs. Just trying to put things into perspective for those thinking of moving here.

My budget is probably helpful to those thinking about retiring to the VI. It would be quite difficult to do that on a limited budget without owning property outright. Thus, as I stated, my budget is for insurance and taxes only. I have solar panels on the roof - and a negative WAPA bill. Otherwise, our home would use about $200/month in electric.

Car insurance is about $50 per month for our car. Another $150 per month for gas and routine maintenance. Major repairs are not included for sure. But our island vehicle is in good shape and we've owned it for a while - so no car payment. Gas prices on St. Croix are now about the same as in FL.

ReplyQuote
Posted : June 15, 2016 4:56 pm
speee1dy
(@speee1dy)
Expert

rent 1200
electric 150
groceries 600-800
cell for 2 145
dish 110
internet 50
gas for cars 125
misc 200
health insurance ( out of paycheck ) 500

insurance for 2 cars per year 1300

thats an estimate. i am sure i am forgetting something but not sure what

ReplyQuote
Posted : June 15, 2016 5:00 pm
Alana33
(@alana33)
Expert

$2.21 - $2.27 for regular gas in FL, now.
Is that what you're paying on STX?
STT is $2.98 for regular.
It went up from $2.78, our all time low.

ReplyQuote
Posted : June 15, 2016 10:19 pm
mtdoramike
(@mtdoramike)
Trusted Member

Accurate for your particular circumstances and of course these are widely disparate. Your $500 housing cost is unrealistic for anybody who doesn't own their home outright and of course doesn't include utilities which are relevant to most. Car only $200? Assume that's an outright purchase too and covers gas and insurance but not maintenance and repairs. Just trying to put things into perspective for those thinking of moving here.

My budget is probably helpful to those thinking about retiring to the VI. It would be quite difficult to do that on a limited budget without owning property outright. Thus, as I stated, my budget is for insurance and taxes only. I have solar panels on the roof - and a negative WAPA bill. Otherwise, our home would use about $200/month in electric.

Car insurance is about $50 per month for our car. Another $150 per month for gas and routine maintenance. Major repairs are not included for sure. But our island vehicle is in good shape and we've owned it for a while - so no car payment. Gas prices on St. Croix are now about the same as in FL.

There is no way, you can make even a close guestimate on living on an Island unless you have done it or you take advice from folks giving it to you and I have issues with quite a bit of your guestimates. BUt with that said, you can live as lavish a lifestyle or as skimpish a lifestyle as you want. If you rent a very small apartment, without on suites and master bedrooms with grand kitchens, eat out sparingly or not at all and live primarily on dried beans and rice. Do without cable and internet service, buy an old hooptie car that most in the states would be ashamed to be seen in, a family of two could probably live on $2000.00 a month. It would be tight, but could be done.

mike

ReplyQuote
Posted : June 15, 2016 11:17 pm
STTsailor
(@STTsailor)
Trusted Member

$24K budget is subsistence living is STT. Perhaps in STX it can be done. Seems like rents are way lower in STX and rent is a big factor in the budget.

ReplyQuote
Posted : June 15, 2016 11:26 pm
Gator's Mom
(@gators_mom)
Trusted Member

Accurate for your particular circumstances and of course these are widely disparate. Your $500 housing cost is unrealistic for anybody who doesn't own their home outright and of course doesn't include utilities which are relevant to most. Car only $200? Assume that's an outright purchase too and covers gas and insurance but not maintenance and repairs. Just trying to put things into perspective for those thinking of moving here.

My budget is probably helpful to those thinking about retiring to the VI. It would be quite difficult to do that on a limited budget without owning property outright. Thus, as I stated, my budget is for insurance and taxes only. I have solar panels on the roof - and a negative WAPA bill. Otherwise, our home would use about $200/month in electric.

Car insurance is about $50 per month for our car. Another $150 per month for gas and routine maintenance. Major repairs are not included for sure. But our island vehicle is in good shape and we've owned it for a while - so no car payment. Gas prices on St. Croix are now about the same as in FL.

There is no way, you can make even a close guestimate on living on an Island unless you have done it or you take advice from folks giving it to you and I have issues with quite a bit of your guestimates. BUt with that said, you can live as lavish a lifestyle or as skimpish a lifestyle as you want. If you rent a very small apartment, without on suites and master bedrooms with grand kitchens, eat out sparingly or not at all and live primarily on dried beans and rice. Do without cable and internet service, buy an old hooptie car that most in the states would be ashamed to be seen in, a family of two could probably live on $2000.00 a month. It would be tight, but could be done.

mike

ReplyQuote
Posted : June 16, 2016 9:05 am
Gator's Mom
(@gators_mom)
Trusted Member

$24K budget is subsistence living is STT. Perhaps in STX it can be done. Seems like rents are way lower in STX and rent is a big factor in the budget.

There is rent creep (up) on STX right now. Inventory is down. So rent is lower, but not way lower.

So back to budget .....

But .... do you cut your hair? do you take your pets to the vet? do you travel to see family? do you plan for holiday gifts? do you take vacations? do you have medical or dental out of pocket? do you go out occasionally to a restaurant or bar? do you buy office supplies? do you go to a gym? do you frequent a coffee shop?

You have to budget for this stuff. And BTW, a budget means that's what I'm going to spend and I'll make it work for the month regardless. You plan ahead, set money aside.

Gas was $2.36 on STX two weeks ago. Same in Pinellas in FL.

ReplyQuote
Posted : June 16, 2016 9:23 am
OldTart
(@the-oldtart)
Expert

There is rent creep (up) on STX right now. Inventory is down. So rent is lower, but not way lower.

I follow the rental market quite studiously and haven't noticed any sort of "rent creep" on STX so am curious how you reached that conclusion. Rents on STX are much less expensive than on STT and always have been. Concomitantly, rents on STJ are much higher on STJ than on STT.

ReplyQuote
Posted : June 16, 2016 10:16 am
Gator's Mom
(@gators_mom)
Trusted Member

There is rent creep (up) on STX right now. Inventory is down. So rent is lower, but not way lower.

I follow the rental market quite studiously and haven't noticed any sort of "rent creep" on STX so am curious how you reached that conclusion. Rents on STX are much less expensive than on STT and always have been. Concomitantly, rents on STJ are much higher on STJ than on STT.

I also study STX rentals - since I am a STX landlord. But from your loft on STT north shore I'm sure you know better.

Wow, didn't know that about STJ - I used to be an STJ landlord as well. Good to know though.

ReplyQuote
Posted : June 16, 2016 10:43 am
OldTart
(@the-oldtart)
Expert

I also study STX rentals - since I am a STX landlord. But from your loft on STT north shore I'm sure you know better.

Wow, didn't know that about STJ - I used to be an STJ landlord as well. Good to know though.

As an absentee landlord there may well be aspects of island living and economics of which you're unaware and particularly when relevant to those of lesser means than yourself. I'm always happy to share such relevant information from my Northside aerie.

ReplyQuote
Posted : June 16, 2016 11:17 am
Gator's Mom
(@gators_mom)
Trusted Member

I also study STX rentals - since I am a STX landlord. But from your loft on STT north shore I'm sure you know better.

Wow, didn't know that about STJ - I used to be an STJ landlord as well. Good to know though.

As an absentee landlord there may well be aspects of island living and economics of which you're unaware and particularly when relevant to those of lesser means than yourself. I'm always happy to share such relevant information from my Northside aerie.

Many leave their island dreams 'cause they can't afford them. Better to know in advance.

I had frugal parents who taught me how to save money and take care of myself... but I couldn't live (with spouse) on $2K a month even deep in the bowels of the Midwestern US from which I originally come.

ReplyQuote
Posted : June 16, 2016 1:04 pm
Page 2 / 2
Close Menu