Which of the following is NOT considered a real cost of owning a home that people often overlook?

To understand why personal property taxes are considered a real cost of owning a home, it's important to consider the definition of real costs in homeownership. Real costs encompass all expenses that directly affect the financial responsibility of owning a property.

Personal property taxes, which are often based on the assessed value of the property, are a predictable and regular expense that homeowners must budget for each year. This tax contributes to local services such as schools, infrastructure, and public safety, making it a significant financial responsibility associated with real estate ownership.

On the other hand, the other options listed are all costs that could be overlooked yet have an impact on the overall cost of homeownership. The income lost on cash invested in the home represents an opportunity cost, reflecting potential earnings from alternative investments. The interest paid on borrowed capital is a definite expense incurred when financing the home purchase. Maintenance and repair expenses are ongoing costs necessary to ensure the home remains safe and habitable.

Thus, while personal property taxes are indeed a cost that homeowners must contend with, they are not typically overlooked as they are often prominent financial obligations homeowners are aware of when purchasing a property.