Many Home Buyers Experience Buyer's Remorse!

 

Buying a home is a big deal, so it only makes sense that some folks may regret their purchase once it goes through. But it seems more than just a few folks have second thoughts once they sign on the dotted line.

A new Bankrate survey finds that 44% of folks have some regrets about their current home purchase, but that number goes up to 63% for millennial homeowners. As for their biggest regrets, for 18% of homeowners it’s the unexpected maintenance or hidden costs of a home, something 25% of millennial homeowners name as their top regret.

Other home buying regrets include:

  • Bought too small of a house (12%)
  • It’s in a bad location (8%)
  • Don’t think it’s a good investment (7%)
  • Mortgage is too high (7%)
  • Didn’t get the best mortgage rate (6%)
  • Bought too big of a house (5%)

But even though some folks have regrets, most people still aspire to own their own home one day. In fact 79% of folks believe owning a home is the biggest symbol of the American Dream, more than retirement (68%) and having a successful career (63%). 

Source:Bankrate

Toby + Chilli Mornings

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