First-time homebuyers have their fair share of ups and downs to deal with, but one downside many don’t expect can decimate the most carefully planned of household budgets.
That budget-buster is home maintenance and repair bills, which rarely makes it into the “expected expense” column, according to a new study from Jobber, a provider of home service software. While 93% of Americans say they’re pleased with own a new home, 58% discovered unanticipated repair needs right after move-in day. What’s more, 72% of newly minted homeowners say they spent about $10,000 on those unexpected fixes within two years of buying the property.
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“The biggest mistake first-time buyers make is assuming that if they can afford the mortgage payment, they can afford homeownership,” Daniel Amodeo, president of Boston-based Amo Realty, told Moneywise.
The first two years of home ownership often bring expenses people never planned for, from replacing a water heater or HVAC system to higher insurance premiums, property taxes, landscaping, and routine maintenance.
“I always tell buyers to leave the closing table with a healthy emergency fund because it’s usually not a question of if something will break, but when,” Amodeo said. To Amodeo’s point, 45% of those surveyed in Jobber’s study said they’d warn future buyers to pad the household repair budget with more cash than they think they’ll need.
Buyers too often focus on the initial costs of a home like the listing price and mortgage but fail to account for additional expenses. “First-time homebuyers often lack the experience to understand the surprise expenses,” Wyatt Simon, founder at Omaha Home Advisors, told Moneywise.
Here’s where the biggest early home repair bills originate
New homeowners can do themselves a big favor by focusing on the critical infrastructure of a home, which holds it together, ensuring it operates efficiently and safely. It’s more important than decor or cabinet space.
“Most surprises are seldom cosmetic,” Alexei Morgado, a Florida-based real estate agent and founder at Lexawise, a digital real estate exam preparation platform, told Moneywise.
“They’re related to the age of roofing systems, heating and air conditioning units, water heaters, plumbing or electrical systems, and insurance deductibles.”
Those cost headaches tend to surface at the same time, since the systems may well be close in age. Additionally, most buyers aren’t adequately prepared for these costs since qualification for a mortgage focuses more on affording the monthly payment than on the maintenance.
“Home inspection represents just a snapshot and is no guarantee of the life left in the equipment,” Morgado said. “Most of the buyers may use all of their available funds to pay for a down payment, closing costs, moving, and furniture.”
According to Cotality, non-mortgage housing costs soared by 30% in 2025. Meanwhile, ATTOM finds that the national average on property taxes was $4,427 in 2025, representing a 3% annual increase.
New buyers must factor in insurance costs and taxes when purchasing the house because they are just as as mortgage rates and payments
“The buyer must be aware that it may cost more to buy a cheaper house in a high-risk insurance area, one that needs to have additional wind and flood insurance, which has a large deductible or a potential reassessment of the property following its purchase,” Morgado said.
Here’s how to keep on top of surprise home repair bills
As the old saying goes, a little bit of preparation goes a long way, and that goes double for accounting for home repairs.
Home experts say that while due diligence on maintenance may dent the budget, it’s a whole lot better than the cash you’ll spend addressing big repairs. “Save at least 1% of your home’s value each year for maintenance, Melanie Musson, insurance analyst at Clearsurance.com, told Moneywise. “If your home is older, you should save at least 3%.”
That budget target means if you bought your home for $400,000, plan to spend $4,000 a year maintaining it, which breaks down to about $333 a month.
If you’re about to buy your first home, avoid steering every dollar you have into the down payment. Instead, reserve $5,000 for home maintenance if you can.
“Then, when issues arise, and you’re getting used to how your lifestyle changes from the financial impact of homeownership, focus on function,” Musson noted. “Fix the problem without going overboard.”
For example, if your dishwasher breaks, look for a scratch-and-dent model to get you through to next year. Eventually, when things settle down, you can splurge for the incredible high-end dishwasher you always wanted.
“Just don’t do that right away, and instead, save money during those first two years of ownership,” Musson said.
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