Study: 73% of New Homeowners Faced Unexpected Costs Within 6 Months of Buying
AmeriSave’s new study found that 73% of recent home buyers faced unexpected expenses within six months of closing, with many reporting repair, maintenance, and tax-related surprises soon after moving in.
AmeriSave survey finds most recent buyers underestimated post-closing expenses, while 84% wish they'd done something differently during the home buying process.
ATLANTA, GA, UNITED STATES, June 3, 2026 /EINPresswire.com/ -- Buying a home may still represent financial stability for many Americans, but a new study from AmeriSave suggests the reality of homeownership is proving more financially demanding than many recent buyers expected.
The survey of 1,000 U.S. homeowners who purchased within the last 24 months found that 73% encountered unexpected expenses within their first six months of ownership, often related to repairs, taxes, maintenance, or rising monthly costs. At the same time, 84% said they wish they had approached some part of the home buying process differently.
The findings highlight how rising interest rates, competitive market conditions, and ongoing affordability pressures are reshaping the experience of modern homeownership — especially for younger and first-time buyers.
Key Takeaways
• 73% of recent buyers faced unexpected expenses within 6 months of closing
• 54% encountered unexpected costs within just 90 days
• 84% felt rushed by at least one market factor during the buying process
• 79% made compromises on home size, location, condition, or features to close the deal
• 87% say more monthly income would help them feel financially comfortable
• 85% are cutting back on spending to keep up with homeownership costs
• 49% say homeownership increased their stress levels
• 84% wish they had done something differently during the buying process
• 54% would consider selling within two years
Buyers Felt Pressure to Move Quickly
The study found that most buyers experienced pressure from at least one market condition while purchasing their home.
The most common pressures included:
• Competitive offers from other buyers (34%)
• Rising home prices or interest rates (34%)
• Fear of missing out on a desirable property (33%)
• Rent increases or lease expirations (26%)
• Limited inventory within budget (25%)
As a result, many buyers reported making compromises to secure a home.
• 32% compromised on home size
• 31% compromised on home condition
• 30% compromised on location
• 29% compromised on home features like kitchens or layouts
Only 21% said they made no compromises during the buying process.
Unexpected Costs Are Hitting Buyers Soon After Closing
Many respondents said the biggest financial surprises came after they moved in.
While most buyers felt prepared for upfront costs like down payments, insurance, and utilities, preparedness dropped significantly when it came to repairs, maintenance, and property taxes.
The most common unexpected issues included:
• Plumbing problems (34%)
• HVAC or heating and cooling issues (29%)
• Electrical problems (27%)
• Appliance failures (27%)
• Cosmetic repairs and finishes (24%)
• Roofing or exterior repairs (23%)
The study found that younger and first-time buyers were more likely to encounter unexpected expenses early.
• 55% of first-time buyers faced surprise costs within three months
• 64% of Gen Z buyers encountered unexpected expenses within 90 days
Property taxes also emerged as a major challenge, with 60% saying their taxes were higher than expected after purchasing.
Many Homeowners Are Reworking Their Budgets
The findings suggest homeownership is forcing many Americans to rethink their finances after closing.
Nearly nine in ten buyers (87%) said additional monthly income would help them feel financially comfortable, including 72% who estimated they need at least $250 more each month.
To keep up with costs, many homeowners reported making financial sacrifices or adjustments.
• 47% reduced discretionary spending like dining out or entertainment
• 30% adjusted grocery budgets
• 25% took on additional work or income sources
• 24% reduced savings or retirement contributions
• 24% delayed major life plans
• 23% postponed medical care
• 32% delayed certain home repairs
The study found younger buyers experienced the greatest financial pressure, particularly millennials and Gen Z homeowners.
Job and Income Changes Are Affecting Housing Stability
Even among buyers who felt financially prepared initially, many experienced income disruptions after purchasing their home.
Overall, 42% reported at least one job-related financial disruption.
• 19% experienced a job loss within the household
• 22% reported income or pay changes
• 20% experienced shifts in job stability
Younger homeowners reported the highest levels of financial variability:
• 67% of millennials experienced income-related disruptions
• 62% of Gen Z homeowners experienced financial instability after purchasing
Stress levels also increased for many respondents after becoming homeowners.
• 49% said homeownership increased their stress
• 54% of Gen Z reported increased stress
• 50% of millennials reported increased stress
Most Buyers Say They Would Do Something Differently
Looking back, the vast majority of respondents said they would change some aspect of their home buying process.
The most common regrets centered around financial preparation.
• 37% wish they had built a larger emergency fund
• 37% wish they had set aside more repair savings
• 37% wish they had budgeted more carefully for long-term costs
• 36% wish they had saved more for a down payment
• 29% wish they had spent more time understanding affordability
• 21% wish they had compared more lenders or rates
The findings suggest many buyers entered homeownership feeling prepared for approval, but less prepared for the ongoing realities of ownership costs.
More Than Half of Recent Buyers Would Consider Selling Soon
The study also found that many recent buyers already view their current home as temporary.
More than half (54%) said they would consider selling within the next two years.
The most common motivations included:
• Taking advantage of increased home value (54%)
• Upgrading to a larger or better home (50%)
• Moving to a more affordable area (50%)
• Job changes or relocation (45%)
• Rising insurance or climate-related costs (44%)
First-time buyers were especially likely to say they would consider moving again soon, reflecting how affordability and long-term financial flexibility are reshaping homeownership expectations.
View the full study here:
https://www.amerisave.com/learn/affordability-doesnt-end-at-approval-what-new-homeowners-wish-they-knew-before-closing
About
AmeriSave is a national mortgage lender offering home purchase, refinance, and home financing solutions across the United States. Through digital-first tools and personalized lending support, AmeriSave helps buyers navigate today’s housing market with greater transparency and financial clarity.
Taylor Jay
Resolve Marketing
pr@growresolve.com
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