Before you buy your first home, it's important to understand the costs you can expect to pay as a home owner.

To give some estimates, we'll assume you bought a 1,600 square foot, 10-year old singel-family home in Maple Ridge.

Here's a summary of your estimated home ownership costs beyond your mortgage

 

Security 

•  New locks - $200
•  Alarm system - $30/month
•  Security cameras - $300

 

Plumbing 

•  Pipe burst repairs - $300
•  Faucet replacement - $300
•  New toilet - $300

           
 

Renovation 

•  Painting - $2,500
•  New flooring - $5,000
•  Window treatments - $1,000
•  Kitchen appliances - $6,000

 

Taxes and utilities 

•  Property taxes - $320/month
•  Municipal utilities - $58/month
•  Hydro, gas - $275/month
•  Cable, phone, internet - $225/month

           
   

Garden 

•  New fence - $3,000
•  Seed spreader, seeds - $40
•  Lawn mower - $350
•  Weed trimmer - $100
•  Hedge trimmer - $100
•  Landscaping tools - $300

   

Energy efficiency

•  Window replacement - $600/window
•  Caulking, spray-foam, weatherstripping - $250
•  Furnace replacement - $3,000
•  Tankless water heater - $1,500 
•  Standard water heater - $1,000
•  Electrical upgrades - $1,000

           
   

Maintenance and repair 

•  Roof replacement - $20,000/20 years
•  Shingle maintenance - $450/5 years
•  Gutter clearing - $150/year
•  Power washing - $150/year 
•  External paint - $7,500/10 years
•  Drain tiles - $10,000/20 years
•  Deck, patio, shed maintenance - $100/year 
•  Pest removal - $200
•  Garage door repair - $200 
•  Driveway resealing - $500
 

   

Peace of mind 

•  Disaster kit - $200
•  Backup generator - $400
•  Home insurance - $1,000/year