What are some of the monthly or annual operating costs of a residential property?

By
Real Estate Agent

What are some of the monthly or annual operating costs of a residential property?

Some, but not all, of the ongoing costs that you may incur when you own a property include:

  1. mortgage payments (including principal and interest)
  2. property taxes
  3. hydro
  4. water
  5. sewage
  6. septic tank cleaning
  7. natural gas (commodity and delivery)
  8. oil (commodity and delivery)
  9. property insurance
  10. condo maintenance fees
  11. maintenance fees
  12. grass cutting service
  13. snow removal service
  14. landscaping service
  15. maid cleaning service
  16. home owner association dues
  17. tree trimming
  18. pest control
  19. pool cleanup fees
  20. lawn sprinkler maintenance
  21. property insurance
  22. cable TV or satellite television
  23. telephone landlines
  24. alarm monitoring fees

What are some of the monthly or annual operating costs of a residential property?

Posted by

Are you looking to move within or relocate to the Greater Toronto Area?

Marc Swartz, CPA, CA serves clients in the Greater Toronto Area of Ontario, Canada. I primarily focus on Toronto, North York, Scarborough, York Region (including Markham, Unionville, Stouffville, Thornhill and Richmond Hill) and Durham Region (Pickering, Ajax and Whitby).

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Marc Swartz, CPA, CA

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Re-Blogged 3 times:

Re-Blogged By Re-Blogged At
  1. Dr. Stacey-Ann Baugh 11/12/2010 11:04 PM
  2. Jim Frimmer 06/19/2011 09:15 PM
  3. Donna Malone 06/19/2011 11:25 PM
Topic:
Real Estate General Information
Location:
Ontario York Region Scarborough
Tags:
buyers

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Show All Comments
Rainmaker
1,370,269
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Short Sale - CDPE, REDS

  Good list....sometimes buyers look at condo fees and think they will pay "nothing" if they have a single family home....as if there were no maintenance and replacement costs ....ahhh...but we know better !

Nov 09, 2010 07:08 AM #1
Rainmaker
827,086
Marc Swartz
Toronto, ON
CPA, CA - Toronto, Durham & York Regions, Ontario

Hi Sally and David - Semi-detached houses and townhouses will also incur maintenance and replacement fees as well.

Nov 09, 2010 07:13 AM #2
Rainmaker
524,670
Dr. Stacey-Ann Baugh
Century 21 New Millennium - Upper Marlboro, MD
A doctor who makes house calls.

This is a great list.  I am going to reblog this.

Nov 12, 2010 11:03 PM #4
Rainmaker
1,108,239
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

At the risk of sounding ignorant, I have to ask what “hydro” is, especially since you listed water right below it. Hydro to me has always meant water. Is it a Canadian thing (I was told to say that by someone sitting just a few feet from me; it’s his fault). J♪♫♫♪

Nov 19, 2010 02:46 AM #5
Rainmaker
827,086
Marc Swartz
Toronto, ON
CPA, CA - Toronto, Durham & York Regions, Ontario

Hi Stacy-Ann - Thanks for the reblog.

Nov 20, 2010 10:21 AM #6
Rainmaker
827,086
Marc Swartz
Toronto, ON
CPA, CA - Toronto, Durham & York Regions, Ontario

Hi Jim - We use the term "hydro" and "electricity" interchangably to describe the same type of utility in Ontario and likely across Canada.  But you are correct that hydro is related to water.  I think I will write a separate post in the near future on this topc.

Nov 20, 2010 10:28 AM #7
Rainer
639,029
Carl Winters
Canyon Lake, TX

You don't realize the expense until you see it listed; then you realize the cost of having a place to live.

Jun 18, 2011 09:36 AM #8
Ambassador
1,442,777
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Mark I came via Russel's Re-blog.   This is certainly a great list, it should give new home buyers an idea of what owning a home involves.

Jun 19, 2011 07:13 AM #9
Rainmaker
137,388
Aida Pinto
United Associated Brokers - Downey, CA
Real Estate Broker (562) 916-3237

Hi Mark...yes, I came by your blog via Russel's blog....like Jennifer says....it is a great list....and I will reblog with just one slight change....the Hydro thing! ...I don't know what that is either....lol!

Jun 26, 2011 07:04 PM #10
Show All Comments
Rainmaker
827,086

Marc Swartz

CPA, CA - Toronto, Durham & York Regions, Ontario
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