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Trisha wants to buy a condominium. The estimated expenses in the first year will be mortgage interest, $3,819; real estate taxes, $1,381; insurance, $257; depreciation, $1,370; maintenance and repairs, $425; lost income on cash invested, $985. She also estimates that she will save $1,400 in income taxes because of home expenses. What is the net cost of owning a home in the first year?

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Trisha wants to buy a condominium. The estimated expenses in the first year will be mortgage interest, $3,819; real estate taxes, $1,381; insurance, $257; depreciation, $1,370; maintenance and repairs, $425; lost income on cash invested, $985. She also estimates that she will save $1,400 in income taxes because of home expenses. What is the net cost of owning a home in the first year?






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