When most homebuyers calculate whether they can afford a home, they focus almost exclusively on one number: the monthly mortgage payment. It’s the figure lenders qualify them for, the number discussed during showings, and the benchmark used to determine budgets.
However, for buyers in Fort Bend County, that number tells only part of the story.
The average annual cost of owning and maintaining a single-family home in the U.S., excluding the mortgage itself, is estimated at around $21,400 in 2025—roughly $1,800 per month. When these ownership costs are factored in, a $2,500 monthly mortgage can realistically translate into $4,000 or more in total monthly housing expenses.
Qualifying for a mortgage answers one question: “Can a bank approve this loan?”
It doesn’t answer the more important one: “Can this home be comfortably maintained long-term?”
In today’s market, where nearly 45% of homeowners report post-purchase regret—most commonly due to higher-than-expected maintenance and ongoing costs—understanding the full financial picture before buying is more important than ever.
The Predictable Ongoing Costs
Property Taxes
Property taxes have been rising nationwide, with the average bill reaching $4,271 in 2024. In Texas, and particularly in growing areas like Katy and Richmond, increasing home values often lead to higher tax bills even when tax rates remain steady.
Property taxes are not truly fixed. As neighborhoods appreciate and reassessments occur, annual tax obligations can increase—sometimes unexpectedly—causing escrow payments to rise year over year.
Homeowners Insurance
As of late 2025, the average homeowners insurance premium increased 8.5% year-over-year. Higher rebuilding costs, climate-related risk, and insurer recalibration continue to push premiums upward.
For many homeowners, this results in a monthly payment increase of $200–$300 after escrow adjustments—without any changes to the property itself.
HOA Dues
Approximately 40% of homes are subject to HOA fees, with median costs around $125 per month, and many single-family communities ranging between $200–$300 monthly.
In master-planned communities common throughout Fort Bend County, HOA dues often increase over time and may include special assessments, which can add thousands in unexpected annual expenses.
Utilities
In 2024, average energy and utility costs reached $4,494 annually, with internet and cable adding another $1,500+ per year.
Buyers transitioning from apartments to single-family homes frequently experience higher utility bills due to increased square footage, outdoor irrigation, and extended cooling demands—especially during long Texas summers.
Routine Maintenance
Beyond emergencies, homes require ongoing care: lawn service, pest control, HVAC servicing, gutter cleaning, and seasonal maintenance. For many households, these services are practical necessities rather than optional expenses.
Collectively, routine maintenance can add $200–$400 per month to the true cost of homeownership.
The Irregular—but Inevitable—Expenses
Major System Replacements
Maintenance and repairs are not a matter of if, but when. Recent years have also made these repairs more expensive than many homeowners expect.
Average annual home maintenance costs now approach $8,800, with first-year homeowners often facing higher expenses. Common major repairs include:
- HVAC replacement: $5,000–$10,000
- Roof replacement: $8,000–$15,000
- Water heater: $1,200–$2,500
- Foundation repairs: $4,000–$12,000
These costs are inevitable, with timelines that vary by home and condition.
A home inspection should be viewed as a planning tool. An aging roof or older HVAC system isn’t necessarily a deal-breaker—it’s a financial roadmap that allows buyers to plan rather than react.
Ownership Costs That Increase Over Time
While a fixed-rate mortgage provides stability for principal and interest, other components of a housing payment are subject to change.
Taxes and insurance, which are typically escrowed, often rise due to inflation, property reassessments, and regional risk factors. A payment that feels manageable at closing may increase several years later without any lifestyle changes.
Utilities, maintenance services, and replacement costs tend to follow a similar upward trend. Budgeting for homeownership means expecting ownership costs to rise 3–5% annually over time.
Planning Smarter for Long-Term Ownership
Create a dedicated home maintenance fund.
Separate from emergency savings, this fund should be treated as a regular monthly expense. Many homeowners now plan closer to 2–3% of the home’s value annually, depending on age and condition.
Avoid exhausting savings at closing.
Maintaining cash reserves after closing helps protect against unexpected repairs and reduces reliance on high-interest debt.
Invest in preventative maintenance.
Routine servicing and seasonal inspections often prevent small issues from becoming costly emergencies.
Understand system timelines.
Knowing when major components were last replaced allows homeowners to anticipate and plan for future expenses.
When Homeownership Still Makes Sense
Despite the additional costs, homeownership remains one of the most effective long-term wealth-building tools available.
It provides:
- Equity growth over time
- Greater stability compared to rent volatility
- Control over living space and improvements
- Strong community roots, particularly in established Fort Bend County neighborhoods
While ownership costs increase gradually, rent increases can be sudden and substantial—impacting 100% of monthly housing expenses.
A Better Way to Think About Affordability
True affordability isn’t defined by what a lender approves—it’s defined by what allows financial stability when the water heater fails or insurance premiums rise.
Buyers who calculate affordability as “mortgage plus carrying costs” from the beginning often enjoy greater peace of mind, even if it means adjusting expectations slightly.
Homeownership works best when approached with realistic planning rather than maximum leverage.