Homeownership Expenses

Owning a home comes with ongoing expenses beyond the mortgage, so it’s important to budget accordingly. Expect to pay for property taxes, homeowners insurance, and, if applicable, HOA fees. Routine maintenance—like HVAC servicing, gutter cleaning, and landscaping—helps prevent bigger (and more expensive) issues down the line. Then there are the inevitable repairs, from leaky faucets to major system replacements like a new roof or water heater. Utilities, internet, and, in most cases, private services like well or septic maintenance also add up. Planning for these costs ensures that homeownership stays enjoyable rather than stressful, and I can help you anticipate what to expect based on the property you choose AND give you access to my network of qualified contractors.

What to Expect when You’re Expecting:
House Edition

Property Taxes.

You can escrow your property taxes to pay them monthly, or pay them when the bills come in January and August. For a 3 bed, 2 bath, on 1 acre, expect about $9k annually.

HOA fees.

Not very common in Upstate NY, but there are a few lake communities in Sullivan County that in an HOA. Pricing varies depending on amenities offered.

Homeowners Insurance.

Usually about $1k per year, and easy to find shop around with any large company, small company, or an insurance broker.

Flood Insurance.

Only required if you are in a FEMA designated flood zone, which is usually near creeks and rivers, and not ponds or lakes. Rates can vary depending on the house and insurance company. Definitely shop around or see if you can inherit the seller’s policy.

Electric.

Your bill will totally depend on usage (full time vs. part time), and if your heat source is electric or not. Electric bills typically range between $200-800 per month.

Fuel: Oil or Propane.

Your bill will totally depend on usage (full time vs. part time), and if your heat source uses fuel or not. Annual oil usage typically ranges between $1,000-3,000 per year, while annual propane usage typically ranges between $400-1500 per year. Natural gas is only available in small cities such as Kingston or Hudson.

Internet.

Spectrum is the internet provider for most towns in the Hudson Valley and Catskills region. Depending on the speed you choose, you bill will be anywhere between $50-150 per month.

Waste Service.

A majority of towns do not offer trash pick up. Private companies will pick up trash and recycling weekly for $50 per month.

Pest Maintenance.

Preventative pest maintenance is just part of upstate living. Most companies will do quarterly visits plus any on-call services for about $300 per quarter.

Gutter Cleaning.

Best to do this once per year to keep your gutters functioning properly, which will keep moisture away from your foundation and out of your attic. Budget $400 per cleaning.

Septic Pumping.

This only needs to happen every 4 years with full time use. Pumping is $500.

Well Pressure Tank.

Your pressure tank will likely die every 8-10 years. This is a small tank that pulls water from the well and creates pressure in the house. It’ll be $3k to replace it. This is really the only maintenance needed for a well, though a lot of homeowners like to add water softening systems for their water.

Mowing and Plowing.

Usually the same person who mows in the summer will also plow your driveway in the winter. Pricing depends on acreage of yard and driveway length, but expect about $60-150 per mow and per plow.

Chimney Sweep.

You should sweep your chimney every year for safety. $300 annually.

Handyperson/Misc Repairs.

Find a handyperson before you have an urgent repair so you aren’t scrambling when it happens. They will usually charge $100 to visit + an hourly rate.