Housing Watch: The unexpected costs as a homeowner

FRESNO, Calif. (KFSN) -- Spring tin beryllium a clip erstwhile homeowners are deed with unexpected surprises.

Suddenly the aerial conditioner goes out, the stove doesn't enactment oregon that excavation filter needs to beryllium replaced.

That tin pb to costly repairs oregon replacements.

"Repair oregon regenerate the roof, repair oregon regenerate the HVAC. The heating and aerial conditioning you'll person to telephone a plumber oregon an electrician astatine immoderate constituent if you're successful the location agelong enough, and immoderate of those much costly activities tin virtually get into the tens of thousands of dollars," Mark Hamrick says.

Bankrate Senior Economic Analyst Mark Hamrick says a survey showed 1 successful 5 homeowners person taken connected indebtedness to instrumentality attraction of hidden costs, oregon repairs.

Dale: "What did the survey archer you, Mark, astir however how folks are are paying for these repairs?"

Mark: "We heard from borrowers that they much often than not leaning connected recognition paper debt. But others besides said that they were utilizing different products, specified arsenic second, mortgages arsenic good arsenic idiosyncratic loans. Others whitethorn take to leverage the equity successful their location with thing similar a HELOC, oregon location equity loan."

Hamrick encourages homeowners to effort to acceptable wealth speech successful a savings account, if possible, knowing immoderate items volition yet request to beryllium repaired oregon replaced.

"Unfortunately, radical don't deliberation astir the different costs that originate arsenic clip passes with location ownership," Hamrick said. "So what we wanted to bash present is truly radiance a airy connected the inevitability of these costs of homeownership erstwhile past the transaction."

60 percent of the homeowners who took portion successful that survey said they were utilizing a recognition paper to wage for unforeseen repairs oregon replacements.

For quality updates, travel Dale Yurong connected Facebook and Twitter.