Carrying Costs AKA Holding Costs
Posted by Tim Bray onThe costs of owning a property go far beyond making a monthly mortgage payment. The costs of owning a home, especially by first time owners, can be a shock after realizing that owning a home is much more expensive than anticipated.
Residential Carrying Costsare also known as “Holding Costs” and can include the following:
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Mortgage Principle
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Mortgage Interest
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Taxes
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Insurances
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Homeowner Association Fees
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Costs of maintenance, upkeep, and upgrades
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Utilities
It is important for homeowners to understand the cost of ownership and the impact on their discretionary income. Carrying Cost Calculators are important for potential buyers as well as helping sellers to determine the true…
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