To put some dollar figures on the table, here is what housing economist Robert Sheehan, who conducted the study for The Wall Street Journal, calculated for major repair and replacement costs on an upscale hypothetical brick house over 30 years. Keep in mind that even if you can do without such improvements yourself, you may have to make them anyway to be sure of getting the best price for your house when you sell. You may not know it, but in many areas of the country your property taxes can be increased by hundreds of dollars a year without your approval. Should you refuse to pay, the locality that imposed the levy can eventually seize your house and offer it at a sheriff's auction to anyone willing to pay your back taxes. Or they can enlist the help of fellow renters.
Neighbors have pets.
They have kids. They have parties. All of which can have a negative impact on you, and none of which you can do much about. The plus side of owning a home So much for the downside. Owning a home is always more expensive than you think it will be, even if you buy a brand-new home or condo.