The process of buying, owning, and maintaining a home is exciting, but there’s certainly a lot to think about. Getting caught up in the excitement of finding a home you love is easy and forget about some of the basics.

Here Are the Six Most Common Regrets of Homeowners:

The Mortgage Payment Is Too High.

Falling in love with your dream home can make it harder to recognize some intimidating money issues that may pop up down the road. The mortgage on your new home is a huge part of your monthly cash flow, so it’s important to understand the ins and outs of homeownership before committing to a home purchase. The mortgage can be a big monthly payment, tempting many people to put off making payments until they can’t any longer. They don’t realize that if they hit that moment of “can’t make payment” later, their mortgage may have a higher interest rate, or their adjustable-rate feature may have a higher interest rate than the current fixed rate.

You Did Not Get the Best Mortgage Rate.

Buying a home can cost hundreds of thousands of dollars, and many homeowners regret not securing the best mortgage rate. While a mortgage can be a financial decision, it can also be emotional. Mistakes made during or immediately after mortgage application can negatively affect homeowners for years to come. Although mortgage payments may not eat up a large portion of your monthly income, the bills can add up. A mortgage is one of the largest monthly financial obligations, so shopping around for the best mortgage rate is important. You should not only choose a term you can afford but also familiarize yourself with the different types of mortgages available.

It Is Located in An Undesirable Area.

When it comes to home buying, location is everything. And there are two types of locations: desirable and undesirable. And when choosing a home, purchasing a home in a dangerous or undesirable area should be avoided at all costs. It can be nerve-wracking when the house-buying process starts. It’s strange to move into your new place, and you may not even know what’s out there until you’ve looked around. But there’s a silver lining: you can completely tailor the place to your tastes and preferences and make it feel like home.

It Is Not a Wise Investment.

When thinking of home investment, one of the first questions many homeowners ask is whether or not it will be a good investment. It’s often one of the first questions we ask before really even considering buying—after all, buying a home is an investment.

The Costs of Maintenance and Other Unexpected Expenses Are Higher Than Anticipated.

Homeownership offers you security, but it comes with many costs and surprises. Every home needs regular maintenance to stay functional, but the cost of unexpected repairs can quickly add up. Other expenses, like rising prices or painful market shifts, are outside anyone’s control. Homeownership also comes with costs associated with taxes, insurance, and the cost of homeownership. Owning a home comes with many benefits, including tax savings, appreciation, and equity. But homeownership also comes with costs, including maintenance, insurance rates, and property taxes. Not to mention those other unexpected costs that homeowners tend to forget are there until they’ve already occurred.

The Size of The House Is an Issue.

When choosing a home, it’s important to consider how much space you need. While some people are content to live in a small home, others want a bit more room. While size matters, so are the features it offers. If your home doesn’t have the right features, it can end up being a frustration. Buying your first home is a big decision, and the process of finding and buying the perfect house likely consumes a lot of your time and patience. But once you finally find the house you want, you’ll want to maximize the living space as much as possible. But when you get settled into your home, you may find that you need more room or it’s time to downsize, though this can be difficult for many people. As such, you may wonder if you’ve made the right decision.

Your first step should be to take the time to review your current policy. Once that’s done, you should understand whether or not you’re adequately protected. It’s never too late to make a change, so if you’re unhappy with your current coverage, you should discuss your options with an independent agent. Homeowners who wisely use home equity to finance renovations, pay for college, or consolidate debt before retirement are able to avoid one of the biggest regrets for those who don’t take action. Using home equity wisely can be the key to financial security in retirement.