Hidden Costs of Homeownership

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When budgeting for your first home, it makes sense to start off with how much you currently pay in rent and work from there. But it’s important to understand that being able to afford $2,100 a month in rent doesn’t directly translate to being able to afford a $2,100 monthly mortgage payment.

Nationally, homeowners pay over $6,000 each year for un-avoidable costs, so it’s important to factor in these expenses when creating your budget.

When assessing the impact of these costs on your bottom-line, keep in mind that some expenses are non-recurring costs you only have to pay once, while others recur monthly or annually as long as you own the home.

Don’t get blindsided by the hidden costs; Sindeo has your homeownership budget breakdown so you can properly assess just how much you can afford.


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