Question

Base on the info provided what is the total annual cost to own and maintain this home?
You find a home with a purchase price of $215,000 and you are able to pay 10% down.
The following cost are added to the price after down payment.
There is a loan fee of 1 point (1%) of the price after down payment.
You have additional closing cost of $2000.
The following are other costs.
You finiance the total amount borrowed at 4.75 % compounded monthly for 30 years.
Monthly cost are telephone $80, lights $144, water and garbage collection $80.
Annual costs include property taxes $1600, fire, personal property and libility $500 and yard care $600.
Repairs such as Carpeting, paiting, repairs to sprinkles system etc, will average about $1,000 per year.

Solution Preview

This material may consist of step-by-step explanations on how to solve a problem or examples of proper writing, including the use of citations, references, bibliographies, and formatting. This material is made available for the sole purpose of studying and learning - misuse is strictly forbidden.

Finance Questions

This is only a preview of the solution. Please use the purchase button to see the entire solution

Related Homework Solutions

Too Hot to Hold
Homework Solution
$30.00
Business
Hot
Hold
Case
Gwendolyn
Bonnefille
Sly
Income
Statement
Purchase
Price
David Fletcher: Case Analysis
Homework Solution
$120.00
Business
Financial Management
Economy
Research
Team Managing
Individual Managing
Companies
Recruiting
Personality
Working Environment
Leadership
Role Model
Social Media (860 words)
Homework Solution
$43.00
Business
Social Media
Business
Communication
Information
Facebook
LinkedIn
Twitter
Company
Consumer
Feedback
Marketing
Employee
HR
Government
Overview of Major Change
Homework Solution
$83.00
Business
Overview
Major
Change
Definition
Facilitating
Forces
Dynamics
Constraining
Get help from a qualified tutor
Live Chats