The hidden costs of owning a home could be $10,000 a year

• People are spending more and more of their paychecks on mortgages.
• Some other factors could cost them a lot more in the long run if not factored in.
• Two of the biggest hidden costs are maintenance and skyrocketing insurance rates.

Home prices and mortgage rates in the US are still high, so much so that some people can't purchase a place of their own. And many people may not be budgeting for the additional costs of homeownership, such as repairs.