Determine the insurance and maintenance cost per month

Reference no: EM13204906

My brother has a house worth $400,000 and he has no mortgage as it is paid off! His utility bills and insurance and maintenance cost him about %500 per month and property taxes another $500 per month. He claims it only costs him about $1000 a month to live in the house since he has no mortgage. Is he correct from and economist viewpoint? Explain.

Reference no: EM13204906

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Determine the insurance and maintenance cost per month : My brother has a house worth $400,000 and he has no mortgage as it is paid off! His utility bills and insurance and maintenance cost him about %500 per month and property taxes another $500 per month. He claims it only costs him about $1000 a mont..

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