Nationwide Survey: Unexpected Home Costs Add Up as Homeowners Rethink How Long They’ll Stay

- Homeowners wish they had asked more about future repairs and aging home systems before buying, while insurance agents say unexpected costs are among the biggest surprises after closing.

- Two in five homeowners (40%) say they did not expect their current home to be their forever home when they bought it but now believe it will be; 38% would move if market conditions were more favorable.

- While adoption remains limited, 81% of homeowners say they would be interested in smart devices or sensors that monitor water, plumbing systems or electrical fire hazards if their insurer provided them for free.

COLUMBUS, Ohio – For many Americans, the true cost of homeownership does not become clear until after closing. New research from Nationwide finds that unexpected expenses and repairs can catch homeowners off guard, while many are staying in homes they originally expected to leave.

According to the survey, 44% of independent insurance agents say clients are most surprised by how quickly unexpected homeownership costs add up after closing. More than a third point to the cost of homeowners insurance (36%) and how often things break or need attention (34%) as common surprises while 42% say clients are surprised by how difficult it can be to find reliable contractors or service providers.

Those surprises are reflected in what homeowners wish they had known before buying:

- One in five (20%) wish they had asked what repairs or necessary upgrades would likely be needed within the next five years.

- 17% wish they had asked about the age of the roof and major systems such as HVAC, plumbing and electrical.

Insurance professionals also see opportunities for prospective buyers to better prepare. Nearly half encourage clients to ask about natural hazards or weather risks in the area (46%) and more than one-third suggest checking for signs of water damage, mold, or foundation issues (37%).

“Buying a home is one of the biggest financial decisions people make, but the purchase price is only part of what that home will ultimately cost,” said Helen Simonett, Vice President of Personal Property Lines at Nationwide. “Understanding the age and condition of major systems, the repairs that may be coming and the ongoing expenses associated with the property can help buyers get a more realistic picture of what homeownership may cost over time.”

For many, an unexpected forever home means planning for the long term

Those ongoing costs may matter even more as homeowners remain in their properties longer than they originally expected.

Two in five homeowners (40%) say they did not expect their current home to be their forever home when they purchased it but now believe it will be. At the same time, 38% say they would move if market conditions were more favorable, rising to 52% in urban areas and 64% for Millennials.

Many are already adapting their homes for a longer stay. Sixty-four percent have made or plan to make changes to support living there long term. Most common modifications include energy efficiency/weather-related resilience upgrades, improved stairway and entryway lighting, and bathroom safety modifications.

Staying longer also means living with a home's aging systems, maintenance needs and potential risks for more years than originally planned. Forty-three percent of homeowners say they follow a preventive maintenance schedule to avoid future problems, while 19% typically wait until an issue occurs.

“Homeowners who thought they would move after a few years may now be looking at their homes very differently,” said Simonett. “If you’re going to stay longer than planned, it becomes even more important to understand what parts of the home may need attention over the next several years and take steps now to help prevent avoidable damage.”

Homeowners are interested in technology that can catch problems earlier

For homeowners staying longer and managing the ongoing costs of homeownership, catching problems early can help prevent an unexpected repair from becoming an even bigger expense.

Smart-home technology offers one way to do that, but devices designed specifically to monitor home risks are not yet widely used.

According to the survey, only:

- 25% of homeowners currently have water leak detectors or automatic shut-off systems;

- 15% have devices that monitor for electrical fire hazards.

Yet 81% say they would be interested in using devices or sensors that monitor water, plumbing systems or electrical fire hazards if their insurer provided them for free.

Agents also see the value of these tools in preventing costly damage. Water leak detectors top the list of prevention tools agents believe could have the greatest impact on reducing costly home claims (39%), while 30% point to automatic water shut-off systems.

“Some insurance providers, such as Nationwide, are helping homeowners proactively monitor for potential hazards by offering devices like LeakBot for water leak detection and Ting for electrical fire protection services — often at no additional cost to eligible home policyholders,” said Simonett. “These tools make it easier to identify problems early and help prevent damage and potentially dangerous situations.”

Whether homeowners expect to move or stay for the long term, planning for what a home will cost to own and maintain is just as important as planning for what it costs to buy. Keeping up with major systems and catching problems early can help homeowners avoid some of the financial surprises that come after closing.

More findings from the 2026 Nationwide Homeowners survey can be found here.

Methodology

Nationwide commissioned Edelman Intelligence to conduct a 20-minute, online survey between July 10 and July 29, 2026. As a member of CASRO in good standing, Edelman Intelligence conducts all research in accordance with Market Research Standards and Guidelines.

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