These fees cover the cost of maintenance and insurance for the common areas of the condominium complex. Home Maintenance - Gone are the days when a leaky faucet could be remedied with a quick call to the landlord. As a homeowner, you will be solely responsible for the upkeep of your home. If something breaks, it's you that has to fix it, or at least pay for the repairs. Over time, most components of your home will be subject to wear or obsolescence, and consequently need to be replaced.
Many people forget to take into account the ongoing costs of home maintenance.
In some cases, this will lead to a slow but steady deterioration of the property. As the property goes down hill, so does its value. The owner of a neglected home usually pays the greatest price when they attempt to sell the home. Yard Maintenance - Perhaps you have a green thumb and look forward to caring for your new yard. Maybe you've already got more to do than you can handle.