Saturday, November 13, 2010

Home Expense: Joys of Homeownership

Our running average over the past two years of homeownership is about $1600/month or about 32% of income.

This includes mortgage, tax, insurance, HOA, and various other stuff.  With our newly refinance our mortgage will drop $344, saving us over $4128/year and paying for itself in 16 months.  In any case, it looks like our housing expense will drop to 25% of income, a great deal of savings.

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