A household's financial situation can change suddenly due to various factors. Homeowners may face a challenging situation when their dual-income household becomes a single-income one.

The ability to afford a mortgage on one salary depends on several factors. Monthly expenses such as property taxes and insurance play a significant role in determining the affordability of a home.

Industry guidance provides some insight into budgeting for homeowners, suggesting a range for maintenance costs. Further details on evaluating the full cost of ownership are available from Hometap reports.