11/18/2025
🏠 What Are My Monthly Housing Costs Beyond The Mortgage?
🏡 What Should I Expect To Pay For Beyond My Mortgage Payment?
Here’s a clear, simple breakdown of all the monthly expenses you should expect beyond your mortgage as a first-time homebuyer in Fort Worth, Texas.
This is one of the MOST important things new buyers overlook — and it can change your budget by hundreds of dollars a month.
💵 Monthly Costs Beyond the Mortgage
Below is a full list of what typically shows up in your monthly or annual budget.
🏡 1. Property Taxes
Fort Worth property taxes are higher than the national average.
Typical Range:
2.2% – 2.8% of the home’s value per year
Monthly equivalent on a $350,000 home: $640–$815 per month
This is usually collected inside your mortgage payment through escrow.
🔥 2. Homeowners Insurance
Required by your lender and based on the age, size, and location of the home.
Typical Range (Fort Worth):
$150–$300 per month
Homes in hail-prone areas or with older roofs may be higher.
Have wind/hail deductibles? They’re higher in Texas than many states — something first-time buyers often miss.
🌊 3. Flood Insurance (Only if required or optional by area)
Not all homes need this, but Fort Worth has pockets near the Trinity River that still require FEMA coverage.
Typical Range:
Required zones: $40–$120 per month
Optional zones: usually cheaper or unnecessary
🏘 4. HOA Fees
Only applies if the home is inside an HOA neighborhood (common in new builds and suburbs).
Typical Range in Fort Worth:
$25–$125/month for basic communities
$150–$350/month for gated or amenity-rich neighborhoods (pools, trails, gym)
Townhomes/condos may be much higher since they often include exterior maintenance.
🛠 5. Maintenance & Repairs
This is one cost new buyers NEVER plan for, but Texas homes need consistent care — especially with foundation, HVAC, roofing, and soil movement.
Rule of Thumb:
1% of home price per year
On a $350,000 home: $290/month set aside
For older 1960s–1980s homes: budget a bit more
⚡ 6. Utilities
Electricity is deregulated in Texas — so shop around.
Typical Monthly Costs:
Electricity: $120–$250
Water/Trash: $60–$120
Natural Gas: $30–$80
Internet: $60–$100
Larger homes or older HVAC systems will cost more.
🏦 7. Mortgage Insurance (PMI)
Only if you put less than 20% down.
Typical Range:
$75–$250 per month
Goes away once you reach 20% equity (and request removal).
🏠 8. Home Warranty (Optional)
Some first-time buyers buy these for peace of mind.
Typical Range:
$40–$60 per month
📊 Example: Total Monthly Costs on a $350,000 Home
Assuming no HOA and 5% down:
Cost
Estimated Monthly
Property taxes
$725
Insurance
$225
PMI
$150
Maintenance savings
$290
Utilities
$250
Total beyond mortgage
$1,640/month
Add HOA: +$100–$300/month
Add flood insurance: +$40–$120/month
🎯 Summary
Your monthly costs beyond the mortgage will usually be between:
➡️ $1,200 to $2,100 per month
(depending on HOA, utilities, age of home, taxes, and PMI)
Whether you're looking to Buy, Sell or Invest... The Bradford Team will work tirelessly to earn your trust. They're looking to be your trusted advisor in all things real estate. Call today at (800) 210-4045.
Read the original article here:
https://www.thebradfordteam.com/blog/what-are-my-monthly-housing-costs-beyond-the-mortgage/
