Buying a home is one of the biggest purchases you will make in your lifetime. While the initial purchase of a home is a big cost, it is important to keep in mind the expected – and unexpected – costs of owning a home. From maintenance fixes and utilities, to insurance and emergency costs, it is important to be aware of the hidden costs of home ownership that might not always be obvious.
Take a look at these hidden costs of owning a home that you might not be aware of.
Property taxes are based on the assessed value of your property. They are due at a certain time each year and can be added to your monthly mortgage payment, meaning that your lender can pay on your behalf.
A home requires…