The impact of housing life cycle costs on home ownership affordability
- Publication Type:
- Conference Proceeding
- 6th Australasian Housing Researchers' Conference, AHRC 2012, 2012
- Issue Date:
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This paper examines the significance of housing life cycle costs and their impact on home ownership affordability. Home ownership affordability is typically based on initial costs and the cost of financing arrangements in relation to purchaser income with other operational costs given scant, if any, attention. This paper demonstrates how these other operational costs can, in fact, be the dominant home ownership cost element. The paper culminates with the description of an alternative method of measuring home ownership affordability which incorporates these life cycle cost factors. The model is a product of extensive research on housing life cycle costs and has potential universal application.
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