Buying a home is expensive enough, between sky-high home prices and mortgage rates. But the financial strain doesn’t stop at closing—and being a homeowner is more expensive than ever. It’s the lingering pain of hidden fees, which are making it more challenging to maintain a house.
Indeed, the average annual cost of owning and maintaining a single-family home in the U.S. is now more than $18,000 a year, which is 26% more now than compared to four years ago, according to a Bankrate study released Monday. These hidden costs include property taxes, homeowners insurance, home maintenance costs, as well as energy, internet, and cable bills.
