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7 Sneaky Hidden Costs of Homeownership, According to George Kamel. Andrea Norris. December 1, 2024 at 8:00 AM. mphillips007 / iStock.com.
A study from Self, a company that helps clients build credit, used 2021 and 2022 housing data to determine the real cost of homeownership, including things like closing costs, utilities ...
The typical home in the U.S. goes for $417,700 right now, but the cost of homeownership doesn't end there. Aside from the base listing price, owning a home also comes with additional fees like ...
How hidden costs affect homeownership in the long run. To put it plainly, hidden costs make homeownership unaffordable for many people in the U.S. Even if you can afford your monthly mortgage ...
The price for owning a home is rising rapidly – and we’re not just talking about mortgage payments.
At $25,573 annually, New Jersey has the fourth highest hidden homeownership costs in the nation in 2024, according to the study. These costs are 25%, or $5,193, higher than they were in 2020, when ...
In addition, the hidden costs can rack up even more in already expensive metro areas like San Francisco, New York, and Los Angeles, where extra costs can add up to $22,000 annually.
MethodologyBankrate’s Hidden Costs of Homeownership Study analyzes the average annual expenses associated with owning and maintaining a single-family home nationwide and in every state in 2024 ...