Here's how much homeownership costs per year, on top of your mortgage

The video discusses the financial aspects of buying a home in the US, highlighting that the median home price exceeds $430,000 and mortgage rates are around 7%. It emphasizes that first-time buyers often overlook hidden expenses, which can amount to $18,000 annually, including property taxes, insurance, and maintenance. Over a decade, these costs can reach $180,000. The video advises planning for these expenses by saving for emergencies and conducting home inspections to avoid costly repairs.

What is the median price for a home sold in the US right now?

How much do typical families spend on hidden expenses every year?

What are some of the hidden expenses that come with owning a home?

What percentage of the cost of your home should you expect to spend on repairs and maintenance each year?

What should first-time home buyers plan for in addition to their down payment?