A recent survey by Zillow reports that, while most buyers have regrets about some aspect of the home buying experience, 92 percent are happy that they bought and are no longer renting. Whereas over half of buyers are first-time buyers it’s not surprising that there were aspects of the process for which they were not adequately prepared.
The largest regret by 36 percent of the respondents was unexpected repairs or maintenance. Size of the home was also mentioned – twice; with too big cited by 11 percent and too small by 21 percent. 18 percent said they didn’t like their neighbors.
The majority of first-time buyers felt rushed throughout the process and didn’t take adequate time to check out the neighborhood or the commute and chose poor mortgage options.