Homebuyers take on ‘a lot more than a mortgage payment,’ expert says — ‘hidden costs’

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It’s no secret that buying a home has gotten more expensive in the U.S. But the cost of keeping and maintaining a home has gotten significantly pricier, too, which might come as a surprise to some buyers. 

The “hidden costs” of homeownership add up to an average $18,118 annually, or $1,510 a month, according to a new report by Bankrate.com. The national figure includes the average costs of property taxes, homeowners insurance, and electricity, internet and cable bills. It also includes home maintenance, which was estimated at 2% a year of the value of a home.

This article was originally published by a www.cnbc.com . Read the Original article here. .