Majority of Homeowners Report Regrets About Their Homes, According to New Study
A new report from Clever Real Estate reveals that approximately 80% of homeowners have some form of regret about their homes. The most common regrets are related to the home's appearance (66%), followed by general aspects of homeownership (58%), location issues (45%), and the purchasing process itself (38%). Many homeowners express buyer’s remorse early on, with 19% feeling it within a month and nearly 9% before moving in. The study also highlights that over half of respondents regret past renovations or found them more expensive than expected. Financial surprises are common as well: about 55% say owning their home has cost more than anticipated, particularly due to property taxes and maintenance expenses. Nearly half (45%) have spent $1,000 or more on a single expense they later regretted. Despite these concerns, the majority of homeowners still believe buying was a good financial decision. The report also notes that 32% of those who bought in 2022 regret their timing as the highest share since 2000. While many wish to move due to rising home prices, only about one-third feel it is feasible.
Topics: consumer behavior homeownership real estate market regret