Home Expenses Surge: A Hidden Cost of Homeownership
Update: 2025-11-27
Description
Surging Home Expenses: A Hidden Burden on Home Affordability - A new survey reveals a significant increase in non-mortgage home expenses, such as property taxes, utilities, and maintenance, now estimated to reach nearly $24,529 annually. This is almost as much as the typical mortgage payment, highlighting the growing financial burden for many homeowners. Four out of five homeowners surveyed expressed surprise at these escalating expenses, with common maintenance costs including appliance replacements, painting, plumbing issues, and roof repairs. This trend underscores the need for potential homebuyers to consider a broader range of expenses when budgeting for a home.
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