Annual Property Ownership Costs — Tax & Maintenance by Country
Owning is more than the mortgage. Every year you also pay property tax and maintenance. See your true annual running cost by country before you buy.
Your Property
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Total annual cost
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The two recurring costs of ownership
Once you own, two costs repeat every single year for as long as you hold the property:
Property tax — an annual levy on value (France's taxe foncière, the UK's council tax band, US local property tax). It ranges from near-zero in the UAE to about 1.6% in the USA.
Maintenance — repairs, servicing and upkeep. A common rule of thumb is 0.5–1.5% of value per year; houses and older buildings cost more than new apartments.
Why this matters for affordability
Lenders and buyers often forget running costs. On a $300,000 home, 2% combined is $6,000 a year — $500 a month on top of your mortgage. Factoring this in early prevents the classic mistake of buying a home you can afford to purchase but not to keep.
Frequently asked questions
Roughly 1–2.5% of value per year for tax plus maintenance combined, depending on country and property age.
0.5–1.5% of value per year. Older homes and houses sit at the higher end.
The UAE has no annual property tax (though service charges are high). Most others levy 0.1–1.6% of value.