Nearly 75% of new homeowners spend $10,000 on surprise repairs within 2 years — and some never budgeted for them

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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 (1), 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.