The Hidden Costs of Owning a Home

Novice buyers may be shocked by the bite homeownership can take out of their wallets. The actual cost of owning a home involves many hidden expenses beyond a monthly mortgage payment. The first three hidden costs—property taxes, fees, and homeowners insurance—are routine and inescapable. The others—upkeep and repairs of certain parts of the property, termites and mold, and landscaping and lawn care—are occasional and unpredictable.

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