The Source of Remorse

Elyse
The Source of Remorse

Yes, buyer's remorse is real.

So says a Bankrate survey that reveals the common regrets of recent homebuyers.

Though Millennials have the most regrets–64% of those ages 25-40–about a purchase's physical and financial aspects, 33% of baby boomers (ages 57-75) have disappointments too.

The extreme pressure of the fast-moving market is likely a contributor, given that buyers often are fighting to win bidding wars and have little time to contemplate their purchases.

Among the top disappointments are high maintenance and other costs, too-high monthly mortgage costs, not getting the best mortgage rate, and buying a home that's too big or too small.

The survey provides a good reminder about avoiding such remorse by making and sticking to a budget, setting aside money for routine and unanticipated expenses, shopping for the best mortgage rates, and not panic buying.

See more data from the survey at https://bit.ly/3f1qKxV