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.