Homeownership Costs Often Exceed Expectations
A recent Jobber survey reveals that nearly two-thirds of new homeowners found the costs of ownership higher than anticipated. Many were unprepared for ongoing maintenance, with only 44% having budgeted for it. Unexpected repairs and high insurance rates have caused financial stress, sleepless nights, and even doubts about their purchase decisions. Homeowners often assume a home is 'move-in ready,' but nearly 58% discovered unexpected repairs after moving in, costing some over $10,000 within two years. Rising home insurance premiums—up 46% since 2021—are also straining budgets due to inflation and climate-related risks. Property taxes have also exceeded expectations for most homeowners. Experts note that factors like severe weather events in certain states are driving up costs, making affordability a growing concern across the U.S.
Topics: home affordability homebuyer stress maintenance costs unexpected expenses