Most homebuyers underestimate the true cost of homeownership, paying about $400 more monthly than expected. Common overlooked expenses include property taxes, insurance, HOA fees, utilities, and maintenance. Rising home prices outpace income growth, making affordability challenging. Many face financial stress, impacting savings and debt repayment. Over half spend 30% or more of income on housing, and many lack emergency funds. Education on homeownership costs is often insufficient.