Hidden costs of SD homes are nation's third highest

Taxes, yard work, air conditioning expenses add up

Partial chart. Hidden costs include overlooked expenses such as property taxes, insurance, and utilities. (Click to enlarge)
  • Partial chart. Hidden costs include overlooked expenses such as property taxes, insurance, and utilities. (Click to enlarge)

Hidden yearly costs of home ownership in San Diego County are the third highest among the 30 largest metropolitan areas in the United States, according to Zillow.

Full chart from Zillow

Full chart from Zillow

These hidden costs include overlooked expenses such as property taxes, insurance, and utilities. (San Diego Gas & Electric has among the highest, or the highest, electricity charges in the nation.) Then there are maintenance costs such as carpet cleaning, air conditioning, gutter maintenance and the like.

All told, San Diego County's $13,488 overlooked and maintenance costs are topped only by San Francisco ($16,290) and Boston ($14,397.) The U.S. average is $9,080.

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Comments

But when you factor in the effects of neglected road maintenance costing more in car repairs and tax monies being eaten up by settlements in wrongful conduct lawsuits and frivolous giveaways to billionaires, San Diego is #1!

Cassander: That is an excellent point. The expense of a rundown infrastructure -- huge potholes that cost you $500 to fix your car, e.g. -- also take money from your pocket book. However, most of these are really not housing expenses. Best, Don Bauder

Ed Harris: I am not aware of any survey concluding that San Diego costs are among the highest in the U.S. that is B.S. Best, Don Bauder

Mike Murphy: The constant real estate turnover keeps real estate commissions on the high side. Best, Don Bauder

I believe the recent spikes in rising housing costs are being driven by two phenomenons. First is foreign investment, primarily Chinese, in buying up high-end residential real estate and investment properties such as multi-unit housing. The second is domestic investment pools that are buying middle-income residential property and renting houses, taking single-family homes off the market for good. Other factors like AirBNB are also creating conversion of month-to-month rentals, to day-to-day rentals in neighborhoods that are desirable destinations for tourists.

Ponzi: Vacation rental homes are hurting many American towns and cities. This activity takes so many homes off the market that in some locations, people are having a tough time finding homes -- and then affording those homes once they find them. The problem is most pronounced in tourist destinations. Best, Don Bauder

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