real estate

5 ways your house can make you go broke

5 ways your home makes you broke
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5 ways your home makes you broke © Twin Design/Shutterstock.com

5 ways your home makes you broke

Riding out the life cycle of a mortgage isn't for the faint of heart -- or wallet. It can cost big bucks to buy, maintain, renovate and sell a home. And if you're not careful, your dream house could send you to the poorhouse.

Intensifying the sting from those expenses is the still-shaken real estate market, in which property values are slowly recovering from a historic downturn.

Even with all those factors in play, owning a house doesn't have to be your undoing, experts say. But the perils of homeownership can get the best of you if you fall prey to any of these five scenarios.

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