This $2,000 expense could blindside happy homebuyers

Personal Finance


Matthew Busch | Bloomberg | Getty Images

A new home for sale stands in the Andalucia neighborhood of The Dominion gated community in San Antonio, Texas.

Enjoy your pristine lawn and beautiful pool: The cost of keeping up these amenities may be burning a hole in your wallet.

Prospective homeowners generally are aware of what it would cost to pay down their mortgage each month, as well as the expense of keeping an insurance policy on their dwellings.

What they may not have considered is the cost of maintaining their humble abode.

On average, that is about $2,000 a year, according to data from Bankrate.com. The personal finance website polled 2,218 individuals online recently.

“When you go looking for a home and you’re sketching out your budget, you’ll have to account for principal, interest, property taxes, insurance and the maintenance costs,” said Taylor Tepper, an analyst with Bankrate.com.



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