What Regrets Are Most Common Among New Home Buyers?admin / 0 Comments /
In an article published by TheMReport.com, a study from Zillow revealing some of the top regrets of home buyers are described. To begin, it seems that younger, and possibly less experienced, home buyers are more likely to feel some sort of remorse after purchasing a house. In fact, 81% of home owners under 34 years old have some sort of regret.
The article states, “Zillow notes that the lower level of satisfaction among younger buyers could be due to their inexperience with the home buying process. Additionally, many of these buyers are likely still living in their first home, and 29% of young homeowners regret rushing the process, compared with 12% of older buyers.” Another source of regret for buyers is a higher than desired mortgage rate and the type of mortgage they were able to secure.
Very few homeowners, however, report wishing they would have simply rented instead of buying. “The American Dream of homeownership is still alive and well, and younger buyers who are building families and forging their careers must stretch their budgets to achieve it,” said Zillow Director of Economic Research Skylar Olsen.
Read the entire article.