Hidden costs of homeownership can add up to nearly $15,000 annually

New Zillow and Thumbtack analysis identifies the additional costs home buyers can expect, including utilities, insurance, maintenance and property tax

SEATTLE and SAN FRANCISCO, June 1, 2023 /PRNewswire/ — The everyday expenses of owning a home are higher than ever, according to a new analysis from Zillow® and Thumbtack. Utility bills, property taxes, insurance and essential home maintenance can add up to $14,155 a year for the average U.S. homeowner. That’s an additional $1,180 per month on top of a typical mortgage payment. First-time home buyers facing affordability challenges in today’s market need to understand and budget for these less obvious expenses when calculating how much home they can afford. 

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