While it's true that there are loan programs that allow for lower down payments, a substantial down payment is often required to secure a mortgage with favorable terms.
Property taxes are a recurring expense that homeowners must budget for each year.
The amount you pay in property taxes depends on the assessed value of your home and the local tax rate.
The cost of homeowners insurance can vary significantly depending on factors such as the location of your home, the size of the property, and the coverage options you choose.
Routine maintenance tasks, such as lawn care, HVAC servicing, and gutter cleaning, can add up over time. Moreover, unexpected repairs, such as a leaky roof or a malfunctioning furnace, can be costly and often occur when least expected.
While they can provide benefits like neighborhood amenities and a well-maintained environment, these fees can be an added expense that homeowners need to factor into their budgets.