January 18, 2021
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Homes built within the last decade cost homeowners less to maintain and operate than homes built in the 2000s, according to data from the American Housing Survey. Operational costs include property taxes, insurance, maintenance, and utilities. On average, homeowners spend 5% of their home’s value on operational and maintenance costs, with property taxes being the bulk of spending. But the National Association of Home Builders says homes built after 2010 have operational costs of 3%. The actual cost varies from region to region, with the East South Central Division at the lowest end with an average spending cost of $6,270 per year while the average cost is $13,000 in New England.