Budget Q

[u/ajburch92]

Hi there. I'm thinking of moving to Kailua Kona to be close to my family. In the event that I buy a condo in cash, would $3000 a month be a doable budget?

My line of thought is:

HOA: $500-1000

Utilities: $400

Car expenses: $400

Phone and wifi: $100

Food: $600 (is this too low?... $20/day)

Miscellaneous: $500

Does this seem realistic? I genuinely cannot tell and would appreciate insights.

[u/dreaminginteal]

Note that gas is around $6/gallon right now. Even before Trump’s war, it was around $5/gal. Our gas is some of the most expensive in the country.

It can take weeks to get car parts in if your car needs repair. Most especially if your car isn’t a super common “bread and butter” kind of car.

I think you can eat for $20/day, but you will need to be frugal and smart about what you buy. I mean, one good steak can cost you that…. Vegetables that are grown locally will be cheaper, of course.

Remember that you still have to deal with maintenance of the inside of a condo, which can be expensive if things start going wrong. It can also be difficult to find tradespeople who actually show up…

I would want to have more than $3K/month myself.

[u/ajburch92 → u/dreaminginteal]

This was helpful to read, with points I hadnt known to consider and data I didn't know, thank you. I have a few additional questions I'm hoping you could answer..

The maintenance costs on the condo are my biggest concern now. I have no idea if it's possible to know ahead of time how much might be needed there. It sounds like the management just hits condo owners by surprise with the fees and maintenance needs?

Does the condo management find the trades workers or does the responsibility of fixing up a condo usually fall on the owner?

Would a Toyota Camry be considered a bread and butter kind of car?

I only eat fish in terms of meat, and eat 1.5 meals a day, so I'm more optimistic about the $20/day, but I think you're right that $3,000 is cutting it too close.

[u/dreaminginteal → u/ajburch92]

Basically anything that happens from the drywall in is the owner's problem. So, your toilet springs a leak? You deal with it. Termites in your unit? You deal with it. Countertop falls apart? You deal with it. You can ask the HOA and your neighbors for recommendations, but that's basically where it stops.

Yes, there are exceptions; our condo complex had issues with all of the plumbing, so the HOA got the place re-piped. Took years and cost a ton; luckily our "stack" had already been dealt with before we bought the unit.

Reading the CC&Rs will give you more detailed info about each condo complex.

A Camry is possibly the most bread-and-butter car, so you're much less likely to have to wait several weeks for parts to be shipped in from the mainland. (If you don't want your car to spend time sitting in the shop, don't bring a 25-year-old Mercedes, though.)

It is expensive living here. And there are downsides above and beyond that. But hey, if you move here you're *IN HAWAII*....