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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.

You should also consider the best type of mortgage for your needs. Click here to read an article from the Consumer Federation of America entitled:

"Exotic or Toxic? An Examination of the Non-Traditional Mortgage Market for Consumers and Lenders"

Financing Tools

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

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 CalculatorClick 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:    
Monthly Principal and Interest Monthly Tax
Monthly Insurance Total Payment
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.)
(annual principal, interest, PMI)


Enter monthly
mortgage payment:  

Town Water
Maintenance/contingency  Homeowner's Insurance
Association fee  Landscaping
Heat  Trash/Dump fee
Phone  Snow Plowing
Electric  Termite/Pest
Cable TV  Land Bank Fee
Total costs  
Rental Income and Expenses

Enter rental income and expenses.  
Rental Income  Rental Expenses 
Summer rental
Winter rental
(10/1 - 5/31)
Year-round rental
Other (e.g., broker commission)
Total rental income
Total rental expenses
Total annual fixed costs (from above)
Net rental income (from above)
Annual Gross Ownership Costs
(For net costs, consult your accountant or financial advisor.)

Mortgage Forum

One main advantage of 401(k) Retirement Plan is that the employee is allowed to contribute to his/her 401(k) with pre-tax money, which reduces the amount of tax paid out of each pay check. Also as the program is a personal investment program for your retirement, it is protected by pension laws. You can visit the mortgage forum if you have any more doubts and queries about the 401(k) plan and discuss them with the mortgage experts

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The Scoop on Cape Cod Real Estate


Disclaimer: By your entering this site, you agree that you understand that the information, links, and calculation forms that lie within this site are a service provided to you free of charge. You further agree that though we attempt to provided accurate information, links, and calculation forms, that you understand that the information, links, and calculation forms may contain mistakes. Finally, you agree that you will not hold The Scoop on Cape Cod Real Estate or any of its employees or associates liable for any mistake contained in any aspect of the information, links, and calculation forms contained within this site.         



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