Home Phantom Costs
Home ownership is no joke. There are a ton of costs that are not covered in a mortgage, if you have a mortgage.
1. HOA
More and more communities have an HOA.
An HOA can be good in keeping a neighborhood well maintained, at a cost.
They can also be mismanaged.
Dramatically increase year over year.
Create legal problems.
And so on.
2. Lawn/Flowerbed Care
Many homes have outdoor needs.
3. Utilities
Usually are not covered and are increasing due to climate change.
4. Repairs
Roof. Air conditioning. The list goes on.
5. Home Owners Insurance - Fire/Flood insurance
Insuring a home is not free.
6. Design
Interior design and furniture can be really expensive.
7. Appliances
Again not free
8. Too Much Stuff
Many times when people buy a home they start gathering a lot of stuff, to the point where they go out and rent a storage unit to store even more stuff life holiday decorations.
9. Holiday Decorations
Homeowners are big on creating memories.
10. Pool - backyard toys
Pool, trampoline etc.
11. Cars
Now that you have a house with a garage better fill up that garage.
12. Property taxes
These go up over time.
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