Used Home
$2,544/mo.
Estimated principal, interest, taxes, and insurance
- Likely major repairs$33,000
- Maintenance over period$25,000
- Additional energy cost$10,200
- Estimated ownership cost$373,500
What does a home really cost
What Does a Home Really Cost?
Home You Are Considering
Major Systems and Possible Replacements
Choose the estimated age or condition of each item. Costs below are demo assumptions and can be adjusted.Roof
$18,000
Furnace
$3,900
Air Conditioner
$3,600
Water Heater
$1,350
Windows
$4,400
Appliances
$1,750
New Home Comparison
5.875% APR
Estimated Ownership Cost Assumptions
Estimated additional monthly energy cost for the used home.
See the Bigger Picture
Allen Edwin Home
$2,468/mo.
FHA promotional example at 5.250% rate and 5.875% APR
- Likely major repairs$0*
- Maintenance over period$9,000
- Additional energy cost$0
- Estimated ownership cost$305,206
In this example, the Allen Edwin home is estimated to cost $68,294 less over 10 years, even though its purchase price is higher.
| Comparison | Used Home | Allen Edwin Home |
|---|---|---|
| Purchase Price | $325,000 | $365,000 |
| Interest Rate | 6.750% | 5.250% |
| Estimated Monthly Payment | $2,544 | $2,468 |
| Likely Repairs and Replacements | $33,000 | $0* |
| Maintenance Over Selected Period | $25,000 | $9,000 |
| Estimated Ownership Cost | $373,500 | $305,206 |
Demo only. All rates, APRs, repair costs, replacement probabilities, maintenance assumptions, energy assumptions, taxes, insurance, and payment estimates are placeholders for concept testing. Production values should be sourced from approved lender data, validated cost assumptions, and final legal disclosures. *New home repair assumptions would need to be defined carefully and should not imply that no repair or maintenance costs can ever occur.