Homeownership entails significant hidden costs, averaging $21,400 annually, which include maintenance, utilities, taxes, and insurance. Rising home values and inflation are driving increases in property taxes and insurance premiums, leading to higher overall expenses. A Bankrate survey reveals that 42% of homeowners express regret over unexpected maintenance costs, emphasizing the need for thorough financial planning. The report highlights the disparity in hidden costs across different states, offering a comprehensive look at the financial landscape for homeowners based on recent trends and economic conditions.
"Higher home values mean bigger property taxes and homeowners insurance policies (and premiums). And in the last five years, inflation has also been rearing its ugly head in the rising cost of everything..."
"In Bankrate's 2025 Homeowner Regrets Survey, nearly half of homeowners (42 percent) who had at least one misgiving about buying their home cited maintenance and other hidden costs as being more expensive than expected."
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