A new report from Bankrate.com says that nearly half of millennial homeowners had regrets about their home purchase. Bankrate says that, overall 44% of homeowners had regrets about their purchase while 56% did not. Unexpected maintenance or other hidden costs were listed as the largest item.
“When you buy a house, you can’t call the maintenance company or a landlord to fix major issues; it’s all on you,”…adding that these expenses — needing a new air conditioner, furnace or water heater, for example — often take first-time buyers by surprise. “I always advise homebuyers to create savings buckets and open a savings account that can collect interest that’s set aside specifically for housing repairs.” Says Luis Rosa, a certified financial planner in Henderson, Nevada.
Click here to read the full report at Bankrate.com.
