Real Estate
Total Cost of Home Ownership
The mortgage is half the story. Real cost of owning includes maintenance, repairs, and utilities — typically 1.5-2x the mortgage.
True monthly cost
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- Annual total
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- Maintenance/mo
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- PITI as % of true cost
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FAQ
1.5% maintenance realistic? +
Yes — average for established homes. New homes 0.5-1%, older homes (50+ yr) 2-3%. Rule of thumb: budget 1% of home value per year.
Why budget high? +
Roof = $15-25k every 25 years. HVAC = $8-15k every 15 years. Water heater = $1500 every 10 years. Add it up.