Based on the premise that the tight housing market is leading homebuyers to jump for purchases that they may have deliberated over more slowly in the past, Trulia Trends conducted a “Real Estate Regrets Survey” recently which revealed interesting regrets from both buyers and renters.
Here are a few of Trulia’s findings:
- 34 percent of homeowners wished that they had purchased a bigger home. This ranked as the biggest regret among buyers surveyed.
- HGTV has created a culture of renovation. 27 percent of homeowners wish they had done more remodeling when they first bought.
- 18 percent of homeowners wish they had put more money down, and 16 percent wish that they had been more financially secure. Very few homeowners — 1 percent — wish that they had borrowed more.
- 39 percent of renters that were surveyed wish they had leased a larger home.
- The top regret amongst renters was that they wished they had bought a home instead. 42 percent of renters with regrets claimed to wish to be a homeowner.
- Generally, regrets are fading as the housing market recovers. 63 percent of owners who bought between 2003 and 2009 have regrets, while 55 percent of those who bought between 2010 and 2013 have regrets.
For the full report, and many more findings and infographics, check out Trulia Trends.
This article originally published at https://dc.urbanturf.com/articles/blog/trulia_what_do_homebuyers_regret_most/6943.
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