5 Costly New Homeowner Maintenance Mistakes (And Fixes)  

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Owning a home comes with responsibilities that can surprise first-time buyers. Common costly mistakes include skipping regular home maintenance, not knowing what home insurance covers (since coverage varies by policy and insurer), and being unprepared for severe weather. Our 2024 Housepower Report shows the impact of these challenges: 73% of homeowners said they regretted purchasing their home in 2024. This makes sense when nearly half of homeowners (46%) spent more than $5,000 on unexpected repairs in 2024, up from 36% in 2023. Whether you just got your keys or you’re still shopping for your dream home, here are some common (and costly) mistakes new homeowners make. Plus, practical advice on how to avoid them. 

1. Skipping the home inspection before closing

Not all home issues are visible to the naked eye. A professional home inspector could find problems that homeowners didn’t know existed. 

Some buyers may waive inspections to shorten the home-buying process, which could lead them to unknowingly buy a home with serious issues. 

Factors such as a home’s age, location, and maintenance history can all affect potential risks, making a professional inspection a worthwhile investment. 

It could also be helpful to go beyond a general inspection, as general inspections may not cover everything. Specialized checks, such as for pests, mold, or structural concerns, often require separate assessments. Inspections could also affect the insurance process. Some insurers conduct a home insurance inspection to review the property’s condition and identify potential risks. Any issues may affect your home insurance premium, coverage, or timing, depending on your insurer. 

2. Ignoring routine maintenance until something breaks

Homes need regular maintenance. Not regularly maintaining your home could shorten the lifespan of some of your major (and expensive) systems. Simple tasks like changing HVAC filters or cleaning gutters could help prevent future costly repairs. 

Many homeowners from our Housepower Report understand these stakes: 

• 65% said they complete seasonal maintenance tasks to help prevent unexpected repairs
• 45% completed maintenance as a way to protect their home’s overall condition · 46% reported they completed maintenance to maintain or increase return on investment.

That said, when routine maintenance tasks slip through the cracks, the results can be expensive. “I’ve replaced entire roof sections because $200 worth of annual cleaning was skipped,” reports Esteban Marin, contractor at Loudoun Roofing and Home Improvement. 

3. Underestimating insurance needs and coverage gaps

Another step for new homeowners is understanding what their insurance policy does and doesn’t cover. A standard policy may protect against theft and certain named perils, like weather events, but it may exclude risks like mold or earthquakes. Because coverage and exclusions vary by policy and insurer, make sure you review your policy carefully. 

Get familiar with where you live. Your neighborhood’s risks and the extreme weather patterns could help you spot areas where you might need more protection. 

“Many first-time homeowners may assume their policy covers everything, but if you add on certain home features like pools and detached structures, you generally need to get additional coverage for those items. Flooding also isn’t covered in a standard policy. Homeowners should regularly review their policy and consult their insurance provider for any coverage questions or recommendations.” — Peter Piotrowski, Chief Claims Officer, Hippo Insurance Services 

4. Failing to budget for the true cost of home maintenance and protection

Your mortgage isn’t the only thing you’ll have to pay for when you own a home. Regular maintenance and occasional repairs are essential to keeping your home in good shape. These expenses can quickly add up and create financial stress. 

That financial strain showed up clearly in our Housepower Report, with 53% of homeowners going over budget on seasonal maintenance in 2024. The report also found that 83% of homeowners faced unexpected repairs in 2024, nearly double the 46% reported the year before, and 47% said those surprises strained their budgets. 

You can start planning for these expenses by looking at annual maintenance trends. According to the National Association of Home Builders (NAHB), maintenance for a post-2010 home may cost roughly 3% of its value each year. For older homes, that figure rises to about 5% annually. 

Seasonal patterns and geography also affect maintenance spending. For example, our Housepower Report found 49% of homeowners on the West Coast reported winter as their most expensive season for maintenance. Meanwhile, 39% of Southern homeowners said summer is their highest season for maintenance spending. 

Keep in mind how much you need to save and when you plan to spend. A Minnesota homeowner may budget for furnace tune-ups and frozen-pipe prevention before winter, while someone in Arizona may spend more preparing for heatwaves. 

5. DIY-ing maintenance projects beyond their skill level

DIY projects can be rewarding and cost-effective, but the cost of overestimating your abilities could outweigh potential savings. Our DIY Disasters Survey revealed how quickly these projects can spiral out of control. 

More than half (58%) of homeowners ended up spending more than they planned on their projects because of mistakes. Even more concerning, 54% ran into financial issues serious enough that they needed help paying for them. 

Knowing which projects your skills are a match for could help you avoid these expensive pitfalls. 

Be honest about your skill level. It’s better to bring in a professional in the beginning than to have to pay for a repair to fix a DIY and the original damage. 

Courtney Klosterman, Home Insights Expert at Hippo home insurance