From Yahoo Finance: 2025-05-21 10:47:00

When buying a home, don’t forget ongoing costs like utilities, repairs, and maintenance. The average annual cost to own a home, not including mortgage payments, ranges from $8,300 to $18,000. Save money by doing maintenance yourself and cutting utility costs. Aim to accrue emergency savings for home repairs.

Maintaining a home can prevent costly repairs. Keep trees trimmed to avoid storm damage and clean kitchen vents to prevent fires. Staying up to date on inexpensive maintenance can save money and avoid insurance claims. Negotiate utility costs, save extra cash in a high-yield savings account for emergencies, and set aside a home insurance deductible.

Read more: Are You Prepared for the Expenses?