The cost of becoming a new homeowner goes well beyond down payments and monthly mortgage payments. In fact, the typical homebuyer expects to spend approximately $30,000 on home maintenance, upgrades and repairs in the coming year — an amount that equals 40 percent of the median U.S. household income ($74,580).
Source: Inman News
New homeowners plan to spend 40% of income on repairs: Study
Published in Agent, home maintenance, homebuyers, homebuying, homeowner readiness, Markets & Economy, new homeowners, Select and Thumbtack
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