Owning a Home is Expensive

Owning a home is expensive and I know this is sacrilege for anyone who works in the industry to say. However, it is a fact that I think any aspiring homeowner must accept. Seriously, it is really expensive.

Much like owning a car, a home requires maintenance and upkeep. Things are constantly breaking and need replacing. After owning a home (or condo) for nearly 20 years, I can tell you from experience there is always something you will need to be spending money on big or small. It seems like every year, there is some large expense my family incurs in keeping our home in tip top shape. These expenses can be large deferred maintenance items like a roof or windows or it could be something unexpected like HVAC failure. It can be a small recurring cost like lawn service and alarm systems.

When prospective buyers are doing a budget for their home purchase, it is imperative that you build in some wiggle room for unexpected expenses.

PerspectivesRussell Martin