Buyer Tool

True Cost of Homeownership

Your mortgage is just the beginning. See the complete monthly picture — taxes, insurance, HOA, maintenance, and more — before you make an offer.

Florida buyers: Homeowners insurance in South Florida averages $4,000–$8,000/year — 3× the national average. Factor this in before you fall in love with a home.

Purchase Details

$550,000
$100K$3M
20% ($110,000)
3%50%
%

Ongoing Costs

1.10% ($504/mo)
0.5%3%
$
$
$
$
1.0% ($458/mo)
0.5%3%

True Monthly Cost

$4,766

per month · $57,196/year

Monthly Breakdown

Mortgage P&I
$2,854
Property Taxes
$504
Homeowners Insurance
$400
HOA Fees
$300
Maintenance Reserve
$458
Utilities
$250
Total Monthly$4,766

Mortgage vs. True Cost

Mortgage only

$2,854

True monthly cost

$4,766

The true cost is 67% more than the mortgage payment alone

Ready to find your number?

Tex will help you find homes that fit your true budget — not just the mortgage payment.