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Hidden Costs in Homeownership that You Should Be Aware Of
- delaneyknight
- 6 days ago
- 2 min read
When buying a home in Boise, it’s easy to focus on the purchase price and mortgage payment—but the real cost of homeownership includes a variety of “hidden” expenses that can add up quickly. Understanding these costs is crucial for budgeting and long-term financial planning.
Annual Hidden Costs Add Up
In 2025, the average homeowner in the U.S. spends about $21,400 per year on hidden costs—expenses beyond your mortgage principal and interest 256. While Boise is slightly more affordable than many West Coast markets, these additional costs are significant and should not be overlooked 3.
What Are the Hidden Costs?
Here are the major hidden costs to expect as a Boise homeowner:
Property Taxes: In Boise, property taxes are typically less than 1% of your home’s appraised value. Idaho offers a homeowner’s exemption, reducing taxes on your primary residence by exempting the first $125,000 of assessed value 17. However, rising home values can still push your annual tax bill higher.
Homeowners Insurance: Nationally, the average annual premium is around $2,267 56. Boise’s rates may be somewhat lower than coastal states, but insurance is still a significant yearly expense.
Utilities and Energy: Expect to pay about $4,500 per year for utilities and energy costs, including electricity, gas, water, and trash service 56.
Internet and Cable: These services average $1,515 annually nationwide 56.
Maintenance and Repairs: Maintenance is often the largest hidden cost, averaging over $8,800 per year. This includes everything from landscaping and HVAC servicing to unexpected repairs like roof leaks or appliance replacements 256. Nearly half of homeowners report being surprised by how much they spend on maintenance.
HOA Fees: Many Boise neighborhoods, especially newer developments, have homeowners association (HOA) fees. These can range from modest to several hundred dollars per month, depending on amenities and services provided7.
Why These Costs Matter
Rising home values and inflation have pushed up property taxes, insurance premiums, and the cost of goods and services, making these hidden expenses a bigger part of the homeownership equation than ever before 6. In fact, 42% of homeowners in a recent survey said they regretted underestimating maintenance and other hidden costs 6.
Planning Ahead
If you’re considering buying in Boise, factor these hidden costs into your budget. They can easily add thousands of dollars to your annual expenses, impacting your overall affordability and financial comfort. As a local real estate professional, I always advise clients to look beyond the listing price and mortgage payment—understanding the full scope of homeownership costs is key to making a confident, informed decision in Boise’s dynamic market.
