BEST ANSWER
Tenafly homes in the size you're describing are resale properties primarily colonial in style but you'll also find some split level homes. Cape cod homes tend to be smaller than 2,000 square feet.
Because I don't have a cost budget from you, it's a bit difficult to determine the figures you ask for as I have no idea what condition you can afford. I'll guess that the home will be in good but not completely renovated condition with average insulation.
Utilities will most likely average $350 per month for both heating and cooling. Water expenses should come to $75 per month for a 2 adult/2 child family (I am figuring in the new rate hike that will take effect in the near future). Home insurance is about $65 per month although that can be a bit higher or lower depending on your specific needs. Property taxes will be about $12,000.
Regarding a nanny, that is so subjective that it's impossible for anyone to give you an estimate - is this a live in or day time nanny? An excellent company is Be Our Nanny at http://beournanny.org/ They are working with some of my clients and the feedback I've been given has been positive.
Another excellent resource is the Borough of Tenafly Tax Assessor, Carol Byrne, who will be able to give you a more accurate idea of property taxes and house values vis a vis the size of a house. You can call the Borough of Tenafly at 201-568-6100 and ask for the Tax Assessor.
Regarding emergency situations, if it's gas heat the local utility company, Public Service Electric & Gas, has really terrific maintenance programs called Worry Free Service; go to http://pseg.com/customer/home/install/overview.jsp Don't forget to scroll down to the bottom of their pricing page where you'll find itemized coverage so you don't have to use their bundled packages. I advise all my clients to get the furnace covered - it's around $5 per month for parts & labor which is a terrific deal plus they check your furnace for free at the start of the heating season. Replacing a gas furnace is really a function of what type of furnace you purchase - the differences can come to several thousand dollars. We can guess it to be $4,000 but I really have no idea if this is at all accurate based on a myriad of choices. PSE&G does a lot of this and will help you by allowing you to pay by monthly installments on your utility bill and they'll help you get tax/green credits too.
If its oil heat you can purchase oil tank insurance and a maintenance contract on your system. Figure $250 per year for the maintenance contract and about the same for the oil tank insurance but to get that insurance, you'll need a tank test which will run around $650. If you need to replace an oil furnace, again, there are so many choices but I'd figure $4,000 for this too and if you're changing over to gas, then it's more likely to be $6,500. Removing an underground oil tank runs around $1,400.
Now, as for the roof, here again, its tough to say - Will you be buying a home with 1 or 2 layers of roof? Will you install a standard 20 year or a premium 25-30 year roof? Let's give this a $7,000 estimate.
What else can go wrong? Anything and nothing. When you purchase a home, you will be having a home inspection. It is essential that you attend that inspection which should give you a good idea of the condition of the house and what to expect in maintaining it. Each home is unique. Again, it's all subjective. It really depends on the house as far as what to expect in the near future. However, the key to it all is taking good care of your home with preventive maintenance.
There is another item that might help you - you can purchase a home warranty which protects you from unexpected expenses as per the coverage offered. Check out American Home Shield at http://www.ahswarranty.com/ as this is a well established company.
Hopefully this helps you; if you have more questions, just let me know by emailing me through my site.
Sun Jul 5 2009, 20:34
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