More and more millennials regret buying their first home - Deepstash

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Housing For Millennials

Housing For Millennials

So many of Millennials with housing regrets. What are they? Why do they feel this way? How does the broker community help?

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Stat

Stat

  • A new survey found that 82% of millennials regretted something about buying their first home.
  • Those who rushed to buy were more likely to have buyer's remorse, and most regretted their location.
  • It's a byproduct of the housing crisis, which pressures millennials to buy what they can.

6

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82% Have Regr

82% Have Regr

Buyer's remorse is real.

Just ask millennial homeowners, the majority of whom regret buying their first home. So finds a new survey by the real-estate education platform Clever Real Estate that polled 1,000 people about their homebuying plans. Of the respondents who already owned a home, 82% had at least one significant regret about their home purchase. 

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Biggest Regret Is Financial

Biggest Regret Is Financial

One in four millennials said their home value decreased while the same amount said their mortgage was expensive. 

Since buyers often had to shell out more than the asking price to outdo competition, many now realize they overpaid. The survey found that one in six millennials would offer at least $100,000 above asking price for their dream home. Almost half of millennials anticipate maxing out their budgets to buy a home, with one-third planning to spend more than the median US home price of $405,000 at the time of the survey in November.

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CURATED BY

mrsmolina

Love learning new ideas that help me grow mentally. Boy mom and spoiled wife. Living our best life.

I want to learn how to truly help this generation build wealth through homeownership that doesn't create this regret.

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