Housing Expenses
Definition of "Housing expenses"
All expenses related to maintaining and operating a household. These expenses include the cost of rent or mortgage payments, taxes, utilities, maintenance and structural improvements. The cost of housing has risen in excess of increases in income. Further, the proportion of income spent on housing is increasing. Current housing expenses consume, on the average, 25% of the family budget, but renters may pay more than 50% of their disposable income on housing.
Popular Real Estate Terms
A notice, usually in writing, in which notice of termination is given by one individual or business to another. It is pursuant to a cancellation provision in a contract to forestall ...
property having an easement right through another adjoining property. The property through which the easement passes is considered to have the servient tenement. ...
Appraisal approach where property values are estimated by comparing current comparable sales. See also market approach. ...
The clause in a deed beginning with the words " to have and to hold" limiting or defining the ownership nature of the estate in the property granted by the deed. Declares the type of ...
Property owned and held jointly and equally shared by each spouse. It is purchased during their marriage, regardless of the wage-earning situation of either spouse. A spouse may not make a ...
The Exclusive Agency Listing is regularly confused with the Exclusive Right to Sell Listing, but they are not the same. True: on both Listings, only 1 Broker or Agent has the right to sell ...
Levy charged to use something such as water supplied by the town. ...
Taxes owed due to nonpayment, underreporting, or omission (unknowingly or intentionally) from a prior year. The taxing authority will demand the back taxes, including possible fines, ...
Wires, such as for electricity, places beneath the floor of a structure. ...
Have a question or comment?
We're here to help.