Some 28% of homeowners said they've considered going back to renting.
Homeowners spend nearly $18,000 a year on expenses aside from their mortgages each year, and nearly 67% of homeowners have regrets about their purchase. According to a report from Real Estate Witch, the average costs for homeownership outside of mortgage payments went up $500, or about 3% since last year. The report says nearly nine in 10 homeowners discovered the true cost of owning a home is more than they expected when they made the purchase.
A survey of 1,000 homeowners found that nearly one in five struggle to afford maintenance, so much so that they’d have to go into credit card debt to fund a $500 emergency repair. The average homeowner spends the following on additional expenses, according to Real Estate Witch:RELATED: Homes are overvalued in most of the US – and the problem is worse in these 5 statesHomeowners surveyed said they spend about 11 hours a week – or 24.5 days a year – working on home upkeep and maintenance.
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