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You’ve probably come across the PITI at some point. For the uninitiated, this refers to four of the very common recurring costs of real estate ownership: principal, interest, taxes, and insurance.

Obviously, these four costs are not universal: properties without associated debt won’t have a principal or interest cost. Nor are they comprehensive: many other types of cost (for instance, repairs and property management fees) certainly abound.

But these four costs are generally lumped together for the a few reasons. First, they’re common—relatively few instances