Homeowners Shocked by Unexpected Expenses.
A survey of 1,000 US homeowners by Real Estate Witch found that 90% of those who bought a home in the last three years were unprepared for the extra costs of maintaining and financing their property. Additionally, 73% of those surveyed said they had regrets about buying their home, with expensive maintenance and hidden costs cited as the most common reasons. Homeowners say they've been surprised by the cost of property taxes, renovations, utilities, roof work, and maintaining the home's appearance. Aside from mortgages, homeowners say they pay an extra $17,459 in annual expenses on average. With the benefit of hindsight, 57% of homeowners say they would have approached buying a house differently had they realized the true cost of homeownership.