This Is How Much It Costs to Own and Maintain a House in 2025: Are You Prepared for the Expenses?
Written by
Dawn Allcot
Edited by
Angela Corry
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When people buy a home, they often don’t consider the ongoing costs. They might run the numbers for the loan’s principal and interest, plus taxes and insurance (PITI) through a mortgage calculator. But what may go unaccounted for are the other expenses that come with running and maintaining a home, including utilities, repairs and regular maintenance.
A new survey from SelfStorage.com discovered that the average annual cost to own a home, not counting mortgage payments, ranges from $8,300 on the low end up to an average of $18,000, nationwide. Â
Breakdown of Annual Home Ownership Costs
The bulk of homeowner costs come from mortgage payments and property taxes for most families. But utilities can add up to a hefty $3,000 to $6,888 per year. Many people also don’t factor in home repairs, which can range from $1,000 to $2,000 annually — and even more if you have to replace a major appliance like a stove or refrigerator.
Routine maintenance and upkeep, encompassing tasks like landscaping, cleaning, and cleaning gutters or chimneys can add up to another $500 to $1,500 per month, depending on the size of the home and whether you like to take on these tasks yourself to save money.
How to Spend Less, Save More
Besides doing maintenance and repairs yourself when you can, there are other ways to make homeownership more affordable.
Shop Around for Better Utility Rates
In many cases, utilities offer the most leeway to cut costs. While many municipalities don’t have multiple options for electricity and water, you can shop around to reduce costs for home internet, home heating oil and propane.
You may even be able to save money on streaming services by bundling them with your home internet. The time-tested trick of threatening to cancel your cable provider unless they can match a competitor’s price still works with home internet services, too. Just be ready to walk if you do find a better deal. Â
Don’t Neglect Maintenance
Home maintenance not only keeps your home looking better, but it can help avoid costly repairs down the line. For instance, keeping trees and hedges trimmed and healthy can prevent branches falling and damaging your house or car during a storm.
Keeping your stove and kitchen vents clean can prevent a home fire. Make sure your smoke alarms and carbon monoxide detectors have fresh batteries, too.
Staying up to date on inexpensive home maintenance can save money, and avoid home insurance claims, down the line.
Build Up an Emergency Savings Exclusively for Home Costs
Once you’ve negotiated down utility costs and looked for other ways to save, shuttle that extra cash directly into a high-yield savings account every month. Now that you know approximately how much to budget for home maintenance and emergency repairs, aim to accrue that much in savings. This savings should be easy to reach if you need it in a hurry. Ideally, look for an online savings account with a debit card you can use for purchases or to withdraw funds with no fees.
Also set aside the amount of your home insurance deductible in your home emergency savings account. That way if you have to make a claim, you won’t fall short on cash that month or have to put the deductible on a credit card. Â
More From GOBankingRates
Sources:
- SelfStorage.com, “47% Lack Emergency Savings for Cost of Owning a Home“
