What are the costs of owning a home?

Your house isn’t just one of the biggest purchases you’ll likely make; there are ongoing expenses that come with homeownership, as well. You know about your mortgage payments, of course. But in addition to that, there are ongoing costs of maintenance and upkeep. And some of these can be hidden costs—that is, less obvious to the naked eye and not necessarily encountered in everyday life.

Home Equity

Among homeowners who regret their residential purchase, the top reason — expressed by 41% — is that maintenance and other unexpected home-related costs were higher than expected, according to Bankrate’s April 2023 Financial

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Historic Home Renovation: 6 Tips to Know Before You Begin

In order to know exactly what she’s working with, New York designer and AD PRO Directory member Elena Frampton makes it a rule to thoroughly scrutinize all the built elements, from floor to ceiling, and all architectural details in between. “Leave no stone unturned when it comes to kitchens and baths,” says Frampton. “It’s always worth looking into what lies underneath. Is there wood under the carpet? Do the fireplaces work? Is there enough power for contemporary systems?” Unanswered questions now can turn into emergency projects later. 

The centerpiece of this prewar duplex is a double-height grand salon, which Frampton

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7 Things You Didn’t Know Can Delay Your Home Renovation

Photo: istockphoto.com

Renovation projects can be a lot of fun. They allow folks the ability to get creative, work with their hands, or bring an idea to life. They can also increase the value of the home, improve its functionality, and solve problems homeowners were living with for years. But, renovations have their pitfalls, and delays can happen.

Whether the homeowner is going full-DIY or hiring pros to handle the job, there are common (but somewhat unknown) hurdles to maneuver. It’s helpful to know about the following home renovation delays before picking up that hammer and pry bar.

1. Lack

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‘You just can’t trust anyone:’ Couple warns of home repair scam in Halifax and Kingston, Ont.

The men were friendly, professional and looked the part — but they were not who they said they were, and now Linda and Bill French are out $500.

The Halifax couple were recently the victims of a home repair scam involving a group of men posing as workers from a local company called Fine Line Roofing and Masonry.

The scam appears to be happening in both Halifax and Kingston, Ont. Police in both cities have issued press releases describing similar incidents and warning residents to be on guard.

Linda French said three men — roughly 30, 45 and 60 years

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How to Fund Your Next Home Repair or Renovation Project

  • A 2022 study shows that homeowners spent a median of $22,000 on renovations.
  • Funding options are available for financing a home project, such as equity loans, credit cards, and refinancing your mortgage.
  • Knowing your project timeline and equity can help you choose the best option for you.

Owning a home comes with inevitable repairs or the desire to give your space an upgrade. A recent study revealed that in 2022, homeowners spent a median of $22,000 on renovations, with more than 50% of them planning to spend at least $15,000 on upgrades.

But don’t let the cost of these projects

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