🏠 1. Mortgage Payment (Principal + Interest)

This is usually the biggest cost.

• Depends on: home price, down payment, interest rate, loan term

• Example:

  • $400,000 home

  • 20% down

  • ~6.5% interest
    → about $2,000–$2,500/month

🧾 2. Property Taxes

• Typically 0.5%–2.5% of home value per year

• Example:

  • $400,000 home → ~$2,000–$10,000/year
    → $170–$830/month

(Hawaii, where you are, tends to have lower property taxes than most U.S. states.)

🛡️ 3. Homeowners Insurance

• Covers damage, disasters, liability

• Usually $100–$300/month, but can be higher in areas prone to hurricanes or flooding (like Hawaii)

🔧 4. Maintenance & Repairs

Rule of thumb:

• 1%–2% of home value per year

• Example:

  • $400,000 home → $4,000–$8,000/year
    → $330–$670/month

(This covers things like fixing appliances, roof repairs, plumbing, etc.)

⚡ 5. Utilities

Includes:

• Electricity

• Water/sewer

• Trash

• Internet

Typical range:

• $200–$600/month (can be higher depending on home size and location)

🏘️ 6. HOA Fees (if applicable)

• Condos/townhomes often require this

• Range: $100–$800+/month

💰 Total Monthly Cost Example

For a $400,000 home:

• Mortgage: $2,200

• Property tax: $300

• Insurance: $150

• Maintenance: $500

• Utilities: $400

👉 Total: ~$3,500/month

⚠️ Key Insight

A good rule:

• Your true monthly cost is often 30%–60% higher than just the mortgage

🧠 Quick Formula

You can estimate like this:

Monthly cost ≈ Mortgage + Taxes + Insurance + Maintenance + Utilities (+ HOA)