Back to top

Disadvantages of owning a house


Whether it is worthwhile to own a home depends on a number of factors. Homebuyers should analyze carefully all pros and cons of owning or renting a property before jumping into any conclusions. Future prospective must be taken into account on the first place when determine whether to purchase a house or not. This article is written not to talk people out of the idea to buy property. The purpose of it is to increase awareness of some disadvantages that you might face while owning home.


To acquire a house costs big money even in credit. For example, if the property costs about $150,000 the down payment might be as high as $30,000 or 20% from the amount. The percentage of the front money might be lower, but then loan terms and conditions may be less favorable to the homebuyers. In addition, you will be bound by the terms of the loan for about 30 years.

Repairs and maintenance

Even with good maintenance in some years property will lose its appearance and requires additional investment into it. For example, a roof that covered with asphalt shingles might need replacement in 10 -20 years depending on quality of installation, materials, and the climate zone. The cost of such project might go higher than $16,000. Depending on material and maintenance wooden fences are also not everlasting and can serve even less than 15 years. Interior renovations are also unavoidable and fall on your footage all the time.

Utility bills

The bigger the house the higher utility bills you have to pay. Homeowners cannot deduct utilities on their tax returns.


When you own a house you are not that flexible as those who lease an apartment. If a person owns property he cannot turn the key and leave because he still responsible for the building. Homeowners might have difficulties to move not only to the other state, but even within the same city. In case you find higher paying job far from the house you own and cannot sell it fast it might be inconvenient and costly to get to work couple hours or more in one way.


Homeowners face many risks while owning the house like possible inability to pay taxes and mortgage, afford costly repairs, or neighborhood changes from good to bad. It is especially the case when your budget can allow you to buy only not very expensive building. The time of purchase the neighborhood might still look like ok and just in few months homebuyer might be shocked with differences.

Possibility of increase in property taxes might also be an issue for many people. In case, for any reason you stop paying mortgage interest they will not only take the house away, but your credit score and credit worthiness drop as well. This will automatically mean that you won’t get any bank loan in the future. In addition, each time the property loses its value they are losing money too.


In some places it is better do not own any property like in certain disaster areas where tornadoes, hurricanes, and floods are common. It is definitely unpredictable, but purchasing or building a house a few hundred feet from ocean might easily lead to catastrophic consequences with no one to blame except your temptation to own waterfront property within incredible ocean view.