Key points:

• The homeowners stated that they wish to inquire more about future maintenance and the aging systems of the houses before making a purchase; on the other hand, insurance agents claim that unexpected costs are one of the biggest “surprises” after the house is handed over.
• Two-fifths of homeowners (40%) stated that they did not expect their current home to become their "forever home" when they purchased it, but now they believe it will; 38% said that they would move if market conditions were more favorable.
• Although the adoption rate is still limited, 81% of homeowners stated that they would be interested if insurance companies provided free smart devices or sensors to monitor for leaks, pipeline system issues, or electrical fire hazards.

Columbus, Ohio, October 15, 2026 / PRNewswire / -- For many Americans, the true cost of owning a home becomes clear only after the transaction is completed. A new study by Nationwide finds that unexpected expenses and repairs can catch homeowners off guard, and at the same time, many people are living in their homes for longer than they originally anticipated.

According to this survey, 44% of independent insurance agents stated that what surprises clients the most is how quickly the cumulative cost of owning a home after settlement can increase. More than a third of the agents pointed out that homeowners' insurance costs (36%) and the frequency of damage to home facilities or the need for maintenance (34%) are also common issues; additionally, 42% said that clients are surprised by how difficult it is to find reliable contractors or service providers.

These surprises also reflect in the things that homeowners wish they would have known before buying a house:

• One-fifth (20%) of people wish they had asked about what repairs or necessary upgrades might be required in the next five years at that time.
• 17% of people wish they had inquired about the service life of major systems such as roofs, HVAC (heating, ventilation, and air conditioning), piping, and electrical installations.

Insurance professionals also believe that potential homebuyers can make more thorough preparations before purchasing a property. Nearly half of the agents encourage clients to inquire about natural disasters or weather risks in their area (46%), and over a third suggest checking for signs of water damage, mold, or foundation issues (37%).

Nationwide, Vice President of Personal Property Insurance Business, stated: "Buying a house is one of the biggest financial decisions people make, but the purchase price is only a part of the ultimate cost of the property. Understanding the age and condition of the main systems, potential future repairs, as well as the ongoing expenses related to the property, can help buyers more realistically assess the costs that may be required for long-term ownership of the housing."

For many people, accidentally ending up with "lifetime housing" means having to make long-term plans.

As homeowners spend more time in their existing properties than initially anticipated, these ongoing costs may become more significant.

Two-fifths of homeowners (40%) stated that they did not expect the current home they purchased to be their “forever home” at the time of purchase, but now they consider it to be so. Meanwhile, 38% said they would move if market conditions were more favorable; this proportion rises to 52% in urban areas and to 64% among millennials.

Many people are already renovating their homes for longer-term residence. 64% of the respondents have carried out, or plan to carry out, renovations that are conducive to long-term living. The most common renovations include upgrades to improve energy efficiency and enhance weather resistance, improvements to stair and entrance lighting, as well as safety modifications to bathrooms.

Living longer also means having to deal with the aging of the housing system, maintenance needs, and potential risks for a longer period than originally planned. 43% of homeowners stated that they would follow a preventive maintenance plan to avoid future problems; 19% usually wait until problems occur before taking action.

Simonett indicates: "Those homeowners who originally thought they would move out in a few years may now be looking at their homes in a completely different way. If you plan to stay longer than originally intended, it becomes even more important to understand which parts of the house may need attention in the coming years and to take immediate action to prevent avoidable damage."

Homeowners are interested in technologies that can detect problems earlier.

For homeowners who plan to stay in their homes for a longer period and manage the ongoing costs of homeownership, identifying issues early on can help prevent unexpected repairs from turning into larger expenses. Smart home technology provides one way to achieve this, but devices specifically designed to monitor housing risks are not yet widely used.

According to the investigation, currently there are only:

• 25% of homeowners have installed leak detectors or automatic water cut-off systems;
• 15% of homeowners have installed equipment to monitor electrical fire hazards.

However, 81% of the respondents stated that they would be willing to use devices or sensors provided for free by insurance companies to monitor for leaks, potential issues with piping systems, or electrical fire hazards.

Agents have also seen the value of these tools in preventing high losses. In the view of agents, leak detectors are the most likely preventive tool to significantly reduce high-value housing claims (39%), with another 30% mentioning automatic water cut-off systems.

Simonett indicates that "some insurance providers, such as Nationwide, are helping homeowners proactively monitor potential risks by providing leak detection devices like LeakBot as well as electrical fire protection services such as Ting. Homeowners with eligible policies generally do not need to pay an additional fee. These tools make it easier to identify problems early on and help prevent losses and potential dangerous situations from occurring."

Whether the homeowner plans to move out soon or to reside there for a long time, planning the costs of owning and maintaining the home is just as important as planning the initial purchase cost. Continuously monitoring the main systems of the house and identifying issues early on can help homeowners avoid some financial surprises after the transaction.

For more findings from the 2026 Nationwide homeowner survey, the company states that they can be viewed on the relevant pages.

Methodology

Nationwide commissioned Edelman Intelligence to conduct an online survey lasting 20 minutes from July 10 to July 29, 2026. Edelman Intelligence stated that, as a good standing member of CASRO, all of its research is conducted in accordance with market research standards and guidelines.

About Nationwide

Nationwide is headquartered in Columbus, Ohio, and is one of the Fortune 100 companies, as well as one of the largest and strongest diversified financial services and insurance institutions in the United States. Standard & Poor's has rated Nationwide A with a + rating. Nationwide provides protection and future planning services for individuals, families, businesses, farmers, as well as public and private sector institutions. The company offers a comprehensive range of financial services and property and accident insurance products. Its financial services solutions include annuities, public and private sector retirement plans, institutional life insurance, employee group benefits, stop-loss insurance, mutual funds, pension risk transfer, and pet insurance. Its property and accident insurance solutions include auto, business, homeowners, farm, excess and surplus insurance, reinsurance, professional insurance, surety insurance, motorcycle, and marine insurance.

For more information about Nationwide and its rating, please visit www.nationwide.com or refer to Company Ratings.

Contact person: Karen Davis, (614) 249-6349, [ email protected ]