Total Cost of Ownership Property Taxes are estimated to be 1.18% of the home\'s
ID: 2589359 • Letter: T
Question
Total Cost of Ownership Property Taxes are estimated to be 1.18% of the home's purchase price (from the Price Estimation and Downpayment tab) $1,697,500.00 What are your annual property taxes? Assume that you will need to allocate 0.50% of your home's selling price to annual maintenance What is your estimated annual maintenance? Assume that utilities (water, eletric, gas, phone, cable etc.) $600.00 Assume that Home Owner's Insurance on an annual basis is 0.3500% of the total home's purchase price. Convert all of the relevant above to monthly amounts, and combined with your mortgage calculation, what is the total estimated monthly cashflow into the house? Total Cost of Ownership Property Taxes are estimated to be 1.18% of the home's purchase price (from the Price Estimation and Downpayment tab) $1,697,500.00 What are your annual property taxes? Assume that you will need to allocate 0.50% of your home's selling price to annual maintenance What is your estimated annual maintenance? Assume that utilities (water, eletric, gas, phone, cable etc.) $600.00 Assume that Home Owner's Insurance on an annual basis is 0.3500% of the total home's purchase price. Convert all of the relevant above to monthly amounts, and combined with your mortgage calculation, what is the total estimated monthly cashflow into the house?Explanation / Answer
In $ Annual Cost Monthly Cost Property Tax =1697500*1.18%= 20030.5 1,669.2 Maintenace Cost (Since the selling price not given, assumed purchase price is the seeling price) =1697500*0.50%= 8487.5 707.3 Utilities Cost Assumed the given cost is for a month 600.0 Insurance cost =1697500*0.35%= 5941.25 495.1 3,471.6 Overall monthly estimate of cost on purchase price =3471.6*100/1697500 0.20%