What are the real costs of owning a house? We break down the mortgage payment and everything you have to pay for AFTER the mortgage payment!
0:00 Introduction
1:17 – Story time with Aric. When he bought his first house, he THOUGHT he understood what he’d be paying, but there was much more than he anticipated.
3:38 – The mortgage payment. Principle + Interest. Could also have escrows like Taxes and Insurance. Together they are PITI.
4:57 – HOA. If you have an HOA, you will pay a monthly fee. Understand what your HOA fee includes. To what level of care must your lawn be?
6:30 – Utilities. Electricity, heat (usually gas), water, garbage & recycling, sewer, and internet. During due diligence, find out what your expenses are.
9:54 – Repairs & Maintenance. Set aside 1% of your home’s value annually. Save it if you don’t spend it this year because the expenses will come. Take an automatic draw for 1/12 of your budget annually.
13:32 – Appliances. Dishwasher, water heater, washer, dryer, etc. They all wear out!
14:14 – Story time w/ Tyler. Broken dishwasher.
15:18 – What did we learn today?
17:01 – Bloopers
* No HOAs were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage’s Jason Christiansen, and Hive Collective at Presidio’s Tyler Cazier and “Mr. Suit” Aric Wiszt.