Fergus Re Holding Cost Worksheet
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Transcript of Fergus Re Holding Cost Worksheet
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8/3/2019 Fergus Re Holding Cost Worksheet
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Michael J. Fergus, Realtor and Licensed AuctioneerDirect: (440) 221 7502 Fax: (440) 974 2345
REAL ESTATE HOLDING COST WORKSHEET
This worksheet is designed to help you understand the true cost o owning your home. Currently the cost o homeownership in general is between 1% and 1.5% per month o the expected sale price o the property. This fgurevaries with the individual property. Property taxes can vary greatly. Older homes are costlier to maintain. Homeswith better insulation and newer windows will cost less to heat. Large lots are costlier to maintain.
Expected Sale Price ..
Minus Mortgage Balance Owed.....
Equity: .............................
FINANCIAL LOSS FROM UNUTILIzED EqUITy. Assumes 6% average value o money. (0.5% per month)Those with other debts (credit cards, car loans) will earnmore money on their equity.
MARKET VALUE LOSS.......................................................................Assumes 6% avg. loss in the next year. (0.5% per month)
MORTGAGE PAyMENT (P&I per month)...............................
ProPerty tax per month......................
HOMEOWNERS INSURANCE per month .........
HEATING FUEL (Monthly Avg., 12 months)...................................
ELECTRICITy PER MONTH......
WATER/SEWER (Monthly Avg.).......................
MAINTENANCE & REPAIR (Monthly Avg.).....
TOTAL MONTHLy COST
TOTAL yEARLy COST
