Why so many millennials regret buying homes

“I think especially if you're a young first-time home buyer, you don't want to buy a home not knowing what you're getting into, because some of those major systems with the home, like the HVAC unit, or windows for example, roof, those things cost a lot of money up-front,” said Kearns.

Routine home maintenance can prevent costly repairs later on. Things like having your HVAC ducts cleaned every three to five years, emptying your gutters at least twice a year, and getting a roof inspection every three years.

Homeownership is still considered a huge marker of success in the U.S.

“The percentage of millennials who answered that way was actually higher at 80 percent. So they still view and value homeownership as being a very important cornerstone of making it,” said Kearns. “But I think it's the affordability factor that's really holding a lot of people back.”

For those who think they might be interested in buying a home, it's never too early to start preparing. Kearns recommends talking to lenders early to get the best mortgage rate possible.