BAM Key Details:
- A Hippo survey of more than 1,000 homeowners found that 25% say homeownership anxiety has a very or extremely negative impact on their quality of life, and 18% rank it among their top stressors alongside career and relationship stress.
- Nearly 7 in 10 homeowners are sitting on unfinished repairs, with 45% estimating it would cost $5,000 or more to get caught up.
- Despite the pressure, 97% of homeowners say owning a home is still worth it.
One in four homeowners says the stress of owning a home is making their quality of life worse.
In other words, the clients you helped get to the closing table aren’t necessarily feeling relieved once the papers are signed. For a lot of them, that’s when the pressure starts to build.
A new report from home insurance company Hippo surveyed more than 1,000 homeowners and found 18% rank their home or homeownership responsibilities among their top sources of stress, putting it on par with career stress and relationship stress.
Homeowners today are managing rising costs, aging systems, and a growing list of home repairs they keep putting off. Many are doing it without much of a support system.
And for younger clients in particular, the weight of it can feel especially heavy. The cost differences between renting and owning a home can feel like a sudden avalanche of expenses.
Agents are in a real position to help with this. Not just during the transaction, but after it.
The relationship you build with a client doesn’t have to end at the closing table. In fact, it shouldn’t. What you do after closing could separate you as a guide your clients can trust and rely on for years to come.
Read on to see how.
The Real Cost of Homeownership Stress
Homeowners in the Hippo survey reported restlessness, disrupted sleep, and worsening physical and mental health as direct results of the pressure they’re carrying.
And 25% say the impact on their quality of life is “very or extremely negative.”
Younger homeowners are feeling it most. More than three-quarters of Gen Z and millennial homeowners (76%) say homeownership anxiety has a moderate to extreme impact on their quality of life, compared to 51% of Gen X and boomer homeowners.
Makes sense when you look at what younger buyers are walking into:
- Mortgage costs and home prices that have outpaced wage growth
- Less time to build savings before entering the market
For many of your younger clients, buying a home was a years-long financial stretch. And once they’re in, the pressure doesn’t let up. Nearly half of millennial homeowners (43%) and 38% of Gen Z homeowners say finances are one of their biggest ongoing stressors.
Sure, they’ve got a roof over their heads they can call their own. But it often comes with a higher monthly housing payment, plus other monthly expenses they may or may not have counted on.
Across all age groups, 18% of homeowners rank their home or homeownership responsibilities as a top source of stress, putting it right alongside career pressure and relationship strain.
That’s nearly one in five homeowners who are struggling with something most of them probably don’t talk about with their agent.
Deferred Maintenance Is Driving a Lot of That Stress
Nearly 7 out of 10 homeowners (69%) are currently sitting on unfinished maintenance or repair tasks. Only 16% say they rarely or never put things off.
For most homeowners, the to-do list just keeps growing. Mainly because other things keep growing or demanding their attention (and money) right along with them.
The tasks they’re delaying aren’t minor. The most commonly deferred repairs involve some of a home’s most essential and expensive systems. And the price tag is often the exact reason why these repairs are being delayed:
- Plumbing work: 25%
- Roof or foundation repairs: 22%
- Electrical work: 21%
Nearly half of homeowners with deferred tasks (45%) estimate it would cost $5,000 or more to get caught up, and 15% say the bill could reach $20,000 or more.
Nearly four in 10 homeowners (38%) say the state of their home’s maintenance and repair needs is either their single biggest source of stress or a major overall contributor to it.
For your clients, this is often the stress that sneaks up on them. Closing day comes with a rush of excitement and relief. Six months later, they’re staring at a leaky faucet, a roof that needs attention, and a list of things they don’t know how to prioritize or afford.
How Agents Can Show Up After the Sale
Nearly all homeowners (97%) say owning a home is worth it, but a lot of them are managing the hard parts alone. Nearly half (47%) lean on friends and family when the stress gets to be too much, and 24% say they just ignore it entirely.
Very few are turning to their agent.
Agents who stay engaged after closing are filling a role most homeowners genuinely need filled.
Showing up doesn’t have to be complicated. A few practical ways to add value after the sale:
- Send a seasonal maintenance checklist at the start of each quarter
- Keep a list of trusted contractors you can refer clients to for common repairs
- Recommend home protection products like a home warranty or a solid homeowners insurance policy
- Check in at the three-month and one-year marks, even just a quick message to see how they’re settling in
For younger clients especially, this kind of support can make a real difference. Many first-time buyers in their 30s and 40s have spent years renting and have little experience managing a home’s systems and maintenance needs.
Having an agent they can call with questions is worth more than most of them realize at the closing table.
That can start with showing up on moving day, ready to help in any way you can. You could also help out by providing a moving truck or a steep discount for moving services, thanks to a partnership you have with a vetted local service provider.
Of course, homeownership goes well past moving day. But showing up on a day when every helping hand makes a difference (especially if the weather isn’t great), they’re more likely to trust you with questions that come up later.
