QuestionQuestion

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.

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