Home > Tag Archives: home maintenance

Tag Archives: home maintenance

How Much Should You Anticipate in Hidden Homeownership Costs?

hidden costs with buying a home

This post is from Jennifer Riner at Zillow.  Making the switch from renting to owning? While historically low mortgage rates might mean your monthly mortgage costs are lower than what you paid while leasing, buyers must plan for more than a mortgage. Although you might factor in the high cost of a down payment, and the title and insurance fees you now face as a homeowner, it’s also important to consider the extra or hidden costs of homeownership. Courtesy of: Zillow   These extra costs can range from property taxes to minor landscaping fees to major roof repairs – depending on your region and the size of your property. According to a recent report from Zillow, the leading real estate marketplace and Thumbtack, a website that connects consumers with service professionals, homeowners might face $9,000 or more per year in hidden or extra homeownership costs. These include both unavoidable costs, such as utilities, and optional maintenance expenses like gutter cleaning. Unavoidable Hidden Costs The report identified three unavoidable hidden costs, which include homeowners insurance, property taxes and utilities. These are non-optional costs, meaning almost every homeowner is responsible for these dues – regardless of where they live. On average, homeowners ...

Read More »