PITI payment question

[Anonymous]

does the PITI amount contain ABSOLUTELY EVERYTHING you pay for the house? in my contract it says principle and interest, property taxes, and homeowner's insurance. are there any other costs that come with buying a house? or is this it? i'm trying to make a budget to see what we need to be prepared for.

[incognitony]

PITI is the total payment each month  after you buy the house. 

[cdtotten]

Obviously you need to factor in your utilities (electric/gas, water/septic, tv/internet/phone, etc.). Additionally, your neighborhood may have home owners association dues, but you would know about that I would think. While budgetting, I would also set aside 2-3% of the home value for repairs each year.

[Anonymous]

ok, thanks!

[Anonymous]

yes, i have put all those expenses into our budget, exaggerating the costs just in case (lol) we don't have the homeowner's association fee, it's a newly established neighborhood. i guess i wasn't clear enough but i meant the taxes and all that. i looked into the website of bell county in texas and i think we're covered having everything in the mortgage.