Know the basic costs of owning a condominium, a multi-family, or a single family as you are actively searching for a new home to occupy and especially know the costs if your aim is to be a landlord or investor.
If you will need financing (mortgage), then that is a main number that you will want to have a general concept of. You can use the mortgage calculator listed below to get your monthly mortgage amount. (The mortgage calculator below does not work in Internet Explorer. Please try Safari, Firefox, Google Chrome, and others to make this function work.)
Here are some monthly costs you will need to plug in:
* Home owner insurance
* Property taxes
* Water/sewer bill (for single family or multi-family homes)
* PMI (Private Mortgage Insurance .. you will not have PMI if your deposit is 20% or greater)
* Condo fee/HOA fee:
I am searching for an online calculator to make it easier to plug these numbers in .. stay tuned!
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