Annual Costs of Owning a Cape House

The 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
for all or part of the year.

Financing Tools

This page provides three tools to help you determine the financial advantages of owning a Cape house:

• Figuring Net Ownership Costs
• Interest Rate Survey
• Mortgage Calculators
• Pre-Qualification Wizard
• Mortgage Loan links from LendingTree.com
  

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.

Simple Mortgage Calculator		Click for more comprehensive mortgage calculator .
Use the default entries or erase the default data and insert your data. Then click the Calculate button.
Loan Amount:		Years:	Interest:		Annual Tax:
Annual Insurance:
Results
Monthly Principal and Interest			Monthly Tax
Monthly Insurance			Total Payment
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Calculate Annual Fixed Costs of Ownership
Enter approximate annual costs. (Mortgage, taxes, house maintenance, insurance, etc. Note: if you used the Simple Mortgage Calculator, taxes and insurance are included in the totals; and your monthly and annual mortgage costs are filled in for you.)
Mortgage (annual principal, interest, PMI)		Enter monthly mortgage payment:
Taxes			Town Water
Maintenance/contingency			Homeowner's Insurance
Association fee			Landscaping
Heat			Trash/Dump fee
Phone			Snow Plowing
Electric			Termite/Pest Control
Cable TV			Land Bank Fee
Total costs
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Rental Income and Expenses
Enter rental income and expenses.
Rental Income			Rental Expenses
Summer rental			Advertising
Winter rental (10/1 - 5/31)			Cleaning
Year-round rental			Other (e.g., broker commission)
Total rental income			Total rental expenses
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Totals
Total annual fixed costs (from above)
Net rental income (from above)
Annual Gross Ownership Costs (For net costs, consult your accountant or financial advisor.)
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The Scoop on Cape Cod Real Estate email: [email protected]			Cape Cod's premier source of information for finding the right house in the right town right now.
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