So you can finance a 1 million dollar property now with 1 BTC (105k) security? Great, but will you be able to maintain that property or default / sell it after one year?

Maintaining a $1 million property in the U.S. involves multiple recurring costs. Here's a breakdown of average annual expenses, which can vary by state, property type, and usage (primary residence vs. rental/investment):

🔧 1. Property Taxes

National average: ~1.1% of assessed value, Cost: $11,000/year

High-tax states (e.g., NJ, IL): ~2% → $20,000+

Low-tax states (e.g., FL, TX – no income tax but high property tax): ~1.8%

🏘️ 2. Homeowners Insurance

Varies by location, risk (flood, wildfire zones), and coverage

Cost: $1,500–$5,000/year

Average: ~$3,000/year

🧼 3. General Maintenance and Repairs

Rule of thumb: 1% of property value/year

Cost: $10,000/year

Covers landscaping, HVAC, plumbing, wear & tear

🧑‍🔧 4. HOA Fees (if applicable)

Condos, gated communities, planned neighborhoods

Cost: $100–$1,000/month

Average: $3,000–$12,000/year

💡 5. Utilities

Electricity, gas, water, internet. Depends on usage and size

Cost: $4,000–$8,000/year

👷 6. Capital Improvements Reserve (Optional but Smart)

For major renovations, roof, structural repairs

Budgeting: 0.5–1%/year

Cost: $5,000–$10,000/year

✅ Estimated Annual Cost Range to Maintain a $1M Property in the U.S.:

👉 $25,000 – $45,000

Good luck with that!