Not only is the price of a home in the Charlotte region cheaper than the national average, but the price of property maintenance is, too.
According to a report released Wednesday from real estate data firm Zillow, homeowners in the Charlotte metro area pay on average $8,865 a year on unavoidable hidden costs like homeowners’ insurance and maintenance, compared with $9,477 on average nationwide.
The first category includes unavoidable expenses like property taxes and utilities. In this category, Charlotte homeowners pay $5,649 on average every year, compared with $6,042 on average nationally.
The second category includes maintenance services like house cleaning, yard care, gutter cleaning, carpet cleaning and pressure washing. On these services, Charlotte area homeowners pay $3,216 a year on average, while the U.S. average cost is $3,435 a year.
“Home buyers too often fixate on the sticker price or monthly mortgage payment on a house, and don’t budget for the other expenses associated with ownership – which can add up quickly,” Amy Bohutinsky, Zillow’s chief marketing officer, said in a statement.
According to Zillow, the median home price in the Charlotte metro area, which includes Gastonia and Rock Hill, was $159,200 in April, compared with the national median price of $178,400.
Zillow’s analysis was done in collaboration with Thumbtack, an online customer service firm, which tracked the maintenance services homeowners use most.