Buying a home is a big decision. And for some recent homeowners, that decision has led to some real regrets—aka “buyer’s remorse.”
But what, exactly, is driving that remorse?
A recent article from realtor.com outlined some of the most common regrets recent buyers have experienced after purchasing their homes, including:
- Unexpected repairs. Many recent homeowners completely underestimated the amount of work their home would need, and found themselves dealing with unexpected repairs that proved both stressful and expensive.
- Not considering their life circumstances. While navigating such a competitive market, many buyers felt the pressure to buy as quickly as possible and didn’t fully consider how the purchase would fit into their present life, or in the future. For example, this left many with regrets about the layout of the home not working for their family, or the cost of renovations eating into their budget.
- Not listening to their agent. Agents have great insights into how to successfully purchase a home. But many buyers did things their own way and went on to regret it in the future. For example, one buyer’s agent suggested immediately renovating a kitchen on the home they purchased to increase the home’s value. But the buyer opted not to, and now that the costs of labor and materials have increased, they regret not getting it done when it was in their budget.
Want to avoid these common regrets? Make sure that you work with a qualified real estate agent, and that you heed their advice! Your agent can help you find the right property, and weigh the pros and cons before you make a purchase—which can help you avoid future buyer’s remorse.