Julie Rains over at Wise Bread has written an excellent article entitled, "What It Really Costs To Own A Home". It's a great run-down of all(or most) of the costs of homeownership.
Now, of course I'm all for investing in a home, but the real costs of ownership cannot be ignored, and need to be given serious consideration when buying a home.
However, there's much to be said for the intangible benefits that draw people to buy a home in the first place. The main point of the article is to make sure you set aside enough money every month so that you can eventually deal with the maintenance issues that are bound to pop up.