Study: Three-quarters of new homeowners face $10,000 in surprise repairs within two years
With non-mortgage housing costs rising 30% in 2025, experts urge buyers to budget for infrastructure failures and rising insurance premiums.
A study by home service software provider Jobber reveals that 72% of new homeowners incur approximately $10,000 in unexpected repair costs within two years of purchasing a property. The research indicates that 58% of buyers discover unanticipated maintenance needs immediately after moving in, often due to a failure to budget for infrastructure issues such as HVAC systems, plumbing, and roofing.
Experts advise first-time buyers to maintain an emergency fund and set aside 1% to 3% of the home’s value annually for maintenance, depending on the property's age. This financial burden is compounded by rising non-mortgage housing costs, which increased by 30% in 2025, alongside rising property taxes and insurance premiums.
Daniel Amodeo, president of Amo Realty, warned that buyers often mistake mortgage affordability for total homeownership affordability. He noted that the first two years of ownership frequently bring unplanned expenses, from replacing water heaters to higher insurance premiums. Amodeo advised leaving the closing table with a healthy emergency fund, stating that it is usually a question of when, not if, something will break.
The nature of these surprises is rarely cosmetic. Alexei Morgado, founder of Lexawise, noted that issues typically involve the age of roofing systems, heating and air conditioning units, water heaters, plumbing, or electrical systems. He emphasised that home inspections provide only a snapshot of condition and do not guarantee the remaining lifespan of major equipment.
Financial data from Cotality shows non-mortgage housing costs soared by 30% in 2025. ATTOM reported the national average property tax was $4,427 in 2025, marking a 3% annual increase. Additionally, insurance premiums rose 7% since the start of 2025, climbing faster than inflation between 2018 and 2024. Melanie Musson of Clearsurance.com recommended saving 1% of home value annually for newer homes, and 3% for older ones, to mitigate these escalating risks.
