US Homeowners Face Over $21,000 Annually in Hidden Costs
A recent study reveals that U.S. homeowners incur over $21,000 annually in various hidden expenses often overlooked during the home-buying process. These costs include home maintenance, property taxes, homeowners' insurance, utilities, and internet and cable services, with home maintenance being the largest expenditure at approximately $8,808 per year. Rising home values contribute to higher property taxes and insurance premiums, compounded by inflationary pressures on construction materials, labor, and services.
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