93% of people regret having bought their homes, discovers a new survey - here is why
The majority also compromised their priorities, revealed researchers.
To buy a house is one of the biggest investments - otherwise THE The biggest investment - you can make. You must realistically consider what you can afford, calculate the potential Mortgage payments And land taxes, and of course, find a house in which you can see yourself live. With all this in mind, you would think there are a relatively small number of buyers who feel like they made a mistake when they take it. However, according to a new investigation Intelligent real estate, around 93% of house buyers regret having bought their homes this year.
In relation: I am a real estate expert and these are the 5 things that devalue your house .
Researchers interviewed 1,000 Americans who bought houses between 2022 and 2023 - and almost all said they had regrets (93%), which was an increase of 72% which declared regrets in 2022.
The purchase of a house that required too much maintenance was at the top of the regret list, with 39% of the people indicating that the seller from whom they had bought "were not frank on the amount of the house's maintenance ".
The second current regret was bought too quickly (33%). According to intelligent real estate, competition is slightly decreed, which means that buyers can take more time to decide their purchases, but because this has not been the case in the past two years, people n 'have not been also likely to do so.
People have also regretted spending too much for their homes (28%), obtaining too high an interest rate (28%), buying a fixer (26%) and succumbing to pressure to make an offer (23%), among others.
While people were concerned about the fact that they were able to have a little too far with expenses, 58% of recent owners said they had really paid for the house they had, and 23% of home buyers had paid more than the national average price of $ 516,500. To worsen things, more than half of the respondents said they "felt beyond their head financially since the purchase of their house", while 62% had trouble making mortgage payments time.
"" At the beginning of 2022 , the buyer of a house of $ 500,000 - assuming a deposit of 20% and the average rate at the time of 3.1% - envisaged a monthly payment of $ 1,700 (excluding property taxes and insurance), "keep the current questions chief economists George Ratiu told Fox Business about the results of the survey. "Today, the buyer of a house at a similar price weighs a monthly payment of $ 2,500, a significant difference."
In relation: I am a real estate agent and it is the 5 red flags that a house is a silver pit .
Although you can think that paying more would bring you "more for your money", this was not the case either. According to the conclusions of Clever Real Estate, this year, 93% of house buyers compromised their essential characteristics (compared to 80% in 2022), including affordability, travel, location and a good school district.
This year's landfill was not exclusive to buyers either: by smart real estate, 95% of sellers also regret an aspect of their sale. The data show that the most common regret was paid too much in the real estate agents commission (28%), followed by the production of too many concessions, such as payment of the buyer's closing costs or the offer to pay For repairs (26%).
Other regrets included not Make repairs before registration, wait too long to sell, do not wait long enough to sell, feel obliged to accept an offer, have the house on the market for too long, and simply miss their house in general.
These figures may seem lamentable, but intelligent real estate has also found that experience can help. According to the results of the survey, repeated buyers were less likely than new buyers to pay too much, and they were more likely to pay the price requested than the price requested than above.
"It is possible that when buyers find a certain power of negotiation on the market, repeated buyers can take advantage of their experience and their negotiation skills to make the purchase of a house more affordable," conclude the results of investigation. AE0FCC31AE342FD3A1346EBB1F342FCB
For more home advice delivered directly in your reception box, Register for our daily newsletter .
Best Life offers the most recent financial information of the best experts and the latest news and research, but our content is not supposed to replace professional advice. Regarding the money you spend, save or invest, always consult your financial advisor directly.
