The Recent Homebuyer Reality Check

Jobber's Recent Homebuyer Report found that the cost of homeownership often exceeds buyers' expectations after closing. While 86% of homeowners described their homes as move-in ready, 58% uncovered unexpected repair needs after moving in, and 72% spent up to $10,000 on unexpected repairs or maintenance within their first two years of ownership. The report also found that 60% said homeownership has been more expensive than they anticipated, with younger homeowners—especially millennials and Gen Z—most likely to encounter surprise repair costs.

These findings reinforce that purchasing a home is only the beginning of a homeowner's spending journey, creating opportunities for contractors, home improvement retailers, HVAC companies, plumbers, electricians, insurance providers and financial services organizations that can help new homeowners prepare for ongoing maintenance, repairs and long-term property care.