Annual Costs of Owning a Cape House
feasibility of investing in Cape Cod real estate begins with a review of the annual
costs associated with such an investment. If you are anticipating future plans
to live here, perhaps a building lot or a small cottage or condo will be a stepping
stone in this process.
You may consider
reducing your costs by renting your Cape house
You should also consider the best type of mortgage for your needs. Click here to read an article from the Consumer Federation of America entitled:
This page provides three tools to help you determine the financial advantages of owning a Cape house:
Figuring Net Ownership Costs
Use this page to calculate the approximate cost of owning a house on Cape Cod. Enter your mortgage costs in the annual fixed costs section or use the Simple Mortgage Calculator to figure your mortgage costs. Then enter the amounts for Annual Fixed Costs, and if you are going to rent your house, Rental Income and Expenses. Your CPA, tax advisor or financial guru is the expert you need to review these figures with and calculate the depreciation schedule of any rental property.
Press the "calculate" buttons, and a rough approximation of your net costs of ownership appears in the Net Ownership Costs section below.
Disclaimer: The calculator on this page is for your convenience, and we do not warrantee any conclusions that you might draw from doing various calculations. Please consult a certified public accountant regarding the latest IRS rules and interpretations on depreciation and the expenses associated with owning a rental property.