The true yearly cost of owning a home
5 chapters·15 min·action plan·mastery check
Chapter 1 of 5
The idea
The mortgage is only part of the bill.
What owners really pay
Mortgage interest, building insurance, maintenance (a common rule: 1% of the home's value a year), property taxes, service charges if any, and the 'opportunity cost' of the deposit that could have been invested.
Predict first
Many planners budget yearly maintenance at what share of a home's value?
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