Real Estate

3 in 4 homebuyers face unexpected maintenance costs in first year


Iryna Imago | Istock | Getty Images

Ah, the joys of homeownership … until something breaks and there’s no landlord to call.

If you just moved into your new home or are in the market for a house, be aware that 77% of homeowners have dealt with an unexpected issue that required shelling out money for a repair in their first year of owning their house. That’s according to a recent survey from insurance firm Hippo.

“Many homebuyers … are vastly unprepared for what’s waiting for them as homeowners,” said Courtney Klosterman, home insights expert at Hippo.

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