The cost of owning a home in the United States is divided into two main components:

The transaction cost of buying a home and the cost of holding the property.

The transaction cost of buying a home is simply the price of the property, and the costs incurred during the transaction, such as property insurance, title registration fees, and first-time property taxes. Some states require an attorney's fee, which is about 1%-2.25% of the total price of the property.

The cost of holding a property is the cost of holding the property during the holding period and is generally divided into four parts: property taxes, property insurance, community management fees, and home maintenance and repair costs.

One-time costs such as insurance and title registration during the purchase transaction stage and monthly loan costs for those who take out a loan are not covered in this article.

1. Real Estate Taxes

Property taxes are the biggest expense of owning a house. As long as you own a house, you will have to pay property taxes. Property taxes vary from state to state in the United States and are set by the state and local county councils based on local financial needs.

The government assesses the price of each house and then calculates the tax based on the assessed price. Property taxes are mainly used for education, policing, landscaping, health care, etc. Property taxes in the United States basically range from 1% to 3% of the price of a home.

In addition, in newly developed communities there is a property surtax that is used to build schools, parks, roads, and other public buildings in the new area for 20-40 years, usually at a rate of about 1% of the property value.

2. Homeowner's Insurance

In the U.S., home insurance is required to purchase a property, especially for those who take out a loan, and banks will certainly require lenders to purchase home insurance.

3. Community Management Fee

This fee is for the management of the common areas of the community. Not all properties require a community management fee. Usually condominiums, townhouses and some single-family homes in the United States are required to pay this fee.

Community management fees vary greatly depending on the area of the property, services, amenities, and the size of the living pads, ranging from a few dozen to several hundred dollars.

The general rule is this: the larger the property, the higher the cost, and the higher the facilities, the higher the cost.

4. House maintenance and repair costs

Costs incurred during the living period, such as monthly water, electricity, gas, internet connection, garbage disposal, burglar monitor, security fee, etc.

In addition to these daily expenses, there are also the following expenses:

Home maintenance costs:If you do not buy a new house, there may be some home repairs, such as old equipment or décor to be repaired, beautified, or renovated.

Yard maintenance costs:About $20-$100 per visit, depending on the size of the yard. Never fail to take the grass in your yard seriously. If you don't tidy up your yard, you may receive a deadline correction notice from the community management board or the government.

Pool maintenance costs:Monthly cleaning costs about $50-$100, monthly potions about $15, plus utilities, twice a year for a major water change cleanup, the average pool maintenance costs about $200-$300 per month.

The above is the cost of holding a property in the U.S. The maintenance requirements of a property in the U.S. are high, and it seems expensive to keep a house. However, since there are no hidden expenses and the value of the property and land stays up, the cost of holding is only a small part of the appreciation space.