“Hidden” Costs of Homeownership

After your tax write offs it is worth the deed. Add in pride of ownership and homeownership is a must have.

However, be aware of the costs that come with homeownership.

• U.S. homeowners can expect to spend $9,080 per year in hidden costs related to owning and maintaining a home, according to a new analysis from Zillow and Thumbtack, or $757 per month on top of a monthly mortgage payment.
• The typical U.S. homeowner pays $2,110 per year in property taxes, $2,953 in utility costs and $996 in insurance costs – all unavoidable expenses associated with homeownership.
• “Optional” but popular homeownership costs including landscaping, cleaning and maintenance can add an additional $3,021 to the typical U.S. homeowner’s annual costs.