A recent survey found that buyers are spending more on their home purchase than they intended. A third of homeowners recently surveyed say that they blew through the upper limit of their home purchase budget by an average of $16,510, according to a new survey released by Owners.com of 1,214 Americans who purchased a home in the last four years.
A big part of the problem is the increasing costs of buying, particularly for starter homes. “Clearly, we’re in an environment of rising prices,” Daniel Maloney, national head of sales for real estate brokerages Owners.com, told USA Today.
