EP 246: The Hidden Cost of Homeownership: Beyond the Mortgage | Colton Pace

Your mortgage isn't the only housing cost that can quietly drain your wealth.Many homeowners spend years focusing on interest rates and monthly payments while overlooking one of the biggest long-term expenses attached to homeownership: property taxes. The reality is that failing to manage these costs could mean leaving hundreds—or even thousands—of dollars on the table every year.This week, Corwyn J. Melette sits down with Colton Pace, Co-Founder and CEO of Ownwell, a technology platform helping homeowners better understand property taxes, reduce unnecessary expenses, and make smarter long-term financial decisions.Drawing from his experience managing real estate assets for ultra-high-net-worth families, Colton explains why wealthy property owners actively monitor their housing costs while many everyday homeowners unknowingly overpay. He shares practical strategies that can help homeowners protect affordability, preserve equity, and treat their homes like the valuable financial assets they truly are.If you're a homeowner, aspiring homeowner, investor, or someone focused on building generational wealth, this conversation offers valuable insights into protecting your financial future.Key Takeaways:2:56 – Why wealthy property owners manage costs differently.5:25 – How property tax appeals can save homeowners money.7:30 – The hidden affordability impact of property taxes.10:00 – Why your property assessment may be inaccurate.12:30 – The reason most homeowners never appeal.15:00 – Smart ways to reduce ownership costs.17:30 – Treating your home like a financial asset.20:00 – The property tax mistake many buyers miss.21:19 – Protecting family wealth through homeownership.Legacy Takeaway:"Managing your property taxes and all the other expenses associated with your home... can keep you in the home longer." -ColtonConnect with Colton PaceWebsite: https://www.ownwell.com/LinkedIn: https://www.linkedin.com/in/coltonpaceConnect with Corwyn:Contact Number: 843-619-3005Instagram:⁠ https://www.instagram.com/exitstrategiesradioshow/⁠FB Page:⁠ https://www.facebook.com/exitstrategiessc/⁠Youtube:⁠ https://www.youtube.com/channel/UCxoSuynJd5c4qQ_eDXLJaZA⁠Website:⁠ https://www.exitstrategiesradioshow.com⁠Linkedin:⁠ https://www.linkedin.com/in/cmelette/⁠Shoutout to our Sponsor: Mellifund Capital, LLCNeed funding for your next real estate flip or build? MelliFund Capital makes it fast, flexible, and investor-friendly. Visit MelliFundCapital.com and fund your future today. Again, that's MelliFundCapital.com, M-E-L-L-I-L-U-N-D, Capital.com.