Buying guide
Bills you have to pay when owning a house
You’ve done the hard part and bought property – these are the costs you’ll need to cover now that you own
AI summary
Owning a home involves several ongoing costs beyond your initial mortgage repayments. It's crucial for new homeowners to budget for these regular bills to maintain financial stability.
Key expenses to plan for include:
- Home insurance, which is mandatory for most mortgage holders.
- Utilities like power, internet, and potentially water.
- Council rates, which fund local services and vary based on property value.
- Maintenance and repairs, for which you should budget around 1% of your home's value annually.
Mortgage repayments (obviously)
Home insurance
Utilities
Get your wallet out, because owning a house isn't cheap!
Rates
Maintenance and repairs
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