Model-based systems design (MBSD), a current trend adopted by INCOSE, employs the systems modeling language (SysML), a standard introduced by OMG and INCOSE. Though there are numerous works on integrating performance exploitation in SysML, cost is not sufficiently explored as a driving design parameter. By integrating cost analysis in a popular modeling language like SysML, the proposed approach may be applied to any system designed using standardized languages and tools. In this work, we integrate cost analysis within SysML models at a generic level to explore design alternatives under specific cost and performance restrictions and perform tradeoff analysis. The proposed SysML extensions provide: 1) cost-related entities to encode cost aspects, such as capital and operating expenses, and 2) functions that enable the automatic computation of costs; these extensions are contained in a custom SysML cost profile. The feasibility and benefits of the approach are explored in two distinct real-world case studies with different purpose and characteristics. 1) Configuring a remote elderly monitoring system, taking into consideration patients' budgetary and operational concerns regarding the equipment installed in their homes. In this case, patients had the opportunity to evaluate and prioritize their concerns prior to using the system. 2) Exploring the improvement of the passengers' comfort as a level of service indicator in the Athens Metro railway system, taking into account operational cost constraints. In this case, the operator obtained forecasts of performance and cost of the metro system operation in order to choose between different operational policies.