Mortgage + County Taxes + School Taxes + Insurance + Maintenance + Utilities = the required funding you need to carry a home purchase.
County Taxes are assessed each year by the municipality in which you reside.
School Taxes are assessed each year by the local school system.
Water and Sewer Charges as calculated by your municipality-private wells and septic systems are not charged
Home Owner’s Insurance is generally mandatory in order to obtain a loan
Maintenance Cost is determined by how well you care for your property
Utilities include: Heating, Electric, Internet Services
Miscellaneous Expenses Include: Snow Removal, Lawn Care, Trash Removal, Portable Device Connectivity, Cable/Satellite Service
Emergency Cushion for unanticipated events, acts of God, unintended consequences.
Tally up your monthly expenses. Tally up your monthly income. Can you afford to carry the property comfortably?