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.
Question
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.
By purchasing this solution you'll be able to access the following files:
Solution.xlsx.
Return to homework library