Buying a home feels like crossing a major finish line. The keys land in hand, the moving truck pulls away, and the dream of homeownership finally becomes reality. Then the surprises start arriving.
A new study from Synchrony found that homeowners dramatically underestimate what they will spend on maintenance and repairs over a lifetime. While many expect to spend about $70,000, actual costs exceed $339,000 and can climb past $418,000 when emergency repairs enter the picture. Even more concerning, nearly half of homeowners have delayed projects because of economic pressures, often making future repairs more expensive.
