5 ways your house can make you go broke

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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.

Written by
Autumn Cafiero Giusti
Contributing writer
Autumn Cafiero Giusti is an award-winning journalist with over two decades of professional experience. She writes about mortgages, real estate and banking.