According to Bankrate’s Hidden Costs of Homeownership study, the average cost of homeownership has seen a significant uptick over the past four years, with a staggering 26% increase. This surge now puts the annual cost of owning a home at over $18,000, which is a substantial financial burden for many homeowners.

Key points from the study include:
– Average cost of homeownership up by 26% over the past four years
– Annual cost of owning a home now exceeds $18,000
– Financial strain on homeowners due to rising costs
– Implications for prospective homebuyers and current homeowners to consider the growing financial commitment of owning a home.

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