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Owning a home comes with a hidden price tag – and it's getting more expensive

Owning a home comes with a hidden price tag – and it's getting more expensive

The hidden costs of homeownership are rising and have increased by nearly one-third in the last five years, as things like insurance, maintenance and property taxes take a bite out of homeowners' budgets.A new report by Zillow and Thumbtack found that those costs amount to about $16,566 per year, which amounts to roughly $1,380 a month in addition to a mortgage payment.Within the $16,566 total cost, the typical U.S. homeowner faces about $11,171 in annual maintenance, $2,266 on homeowners insurance, as well as $3,129 on property taxes."Many households focus so much on winning the home and unde...

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Wayne G Fraser headshot
Wayne G Fraser
HALO Contributor
Insurance Broker Insurance Industry
State Georgia, North Carolina, South Carolina
NPN 17934945

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