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
More from AgentMore posts in Agent »
- Harrison Polsky talks data-driven sales, market trends
- Here’s how to talk with sellers now about buyers and commissions
- How are these new commission rules improving transparency?
- How to deliver a luxury client experience at any price point
- It can happen to you: Get real about personal risk and crime potential
More from home maintenanceMore posts in home maintenance »
- Thumbtack pins new product on task management for homeowners
- Help homeowners lower home maintenance costs in 2023 with this 12-month marketing campaign
- Coming this summer, HomeDiary wants to share all of your home’s secrets: Tech Review
- Utah couple’s home renovation show axed from Chip Gaines’ TV network
- Home Binder keeps market value upfront in centralizing home management: Tech Review
More from homebuyersMore posts in homebuyers »
- Nearly half of NYC’s out-of-state buyers come from these locations
- Zillow, unfiltered: Portal giant adds AI-fueled natural language feature
- US homebuyer down payments reach new record, outpace prices
- Borrowers clash on how far rates need to fall before they’re ‘Golden’
- What homebuyers can expect now: Mandatory consults, exclusive reps
More from homebuyingMore posts in homebuying »
- Nearly half of NYC’s out-of-state buyers come from these locations
- Zillow, unfiltered: Portal giant adds AI-fueled natural language feature
- US homebuyer down payments reach new record, outpace prices
- Calque unveils ‘light’ version of its ‘buy before you sell’ offering
- Karlie Kloss, Joshua Kushner make waves with $29.5M Malibu home
More from Markets & EconomyMore posts in Markets & Economy »
More from SelectMore posts in Select »
- Clear Cooperation takes center stage, faces pressure to change
- Here’s how to talk with sellers now about buyers and commissions
- How are these new commission rules improving transparency?
- How to deliver a luxury client experience at any price point
- More Americans think mortgage rates and home prices will drop
Be First to Comment