fbpx

Many First-Time Buyers Are Riddled with Regrets

Dust settles on snap-decisions forced by a once-in-a-lifetime sellers market.

Share:

Share on facebook
Share on twitter
Share on linkedin
Share on tumblr
Share on pocket
Regret Sets In for Snap Decision Buyers | Range Homes

For a time it seemed like the bidding wars and waived inspections on properties bought sight-unseen that characterized the real estate market during the pandemic might not matter so much — especially as home values rose spectacularly month after month. But with the frenzy subsiding, surveys are now catching up with the sentiments of millennial homebuyers, the majority of whom have major regrets about their new homes.

  • One survey pegs the number of regretful millennial homebuyers at 64%, another at a staggering 82%. Either way, those numbers are much higher than they are for Gen Xers (45%) or Boomers (33%). Millennials are far likelier than those generations to be first-time buyers and to have waived traditional buyer protections.
  • The top regrets among millennial homebuyers are maintenance and mortgage costs, followed by concerns over the quality of their investment and the price they paid. In other words, exactly the sort of buyers-remorse you would expect from a market where sellers had the upper hand to such an outrageous degree.

There is an upshot to all this. As many as 1 in 3 millennials now say they plan to stay in their homes for less than five years. That means lots of new homes will go back on sale, which could ease inventory issues in the years ahead.

Read more at Fortune: 82% of Millennial Homeowners Have Regrets

Buy & Sell Your Next Property with Range Homes

BUY

Buy your next home in the East Bay area with Range Homes
Trust Range Homes to Sell your East Bay home
Check out Range Home’s current East Bay homes for sale
You are in safe hands

When you work with us, consider yourself family

Get in touch today

Mark Pages-Oliver, MBA – DRE:02020349 | Lisa Caldwell – DRE:01267745 | Range Homes – DRE:02111757

Mark Pages-Oliver, MBA – DRE:02020349

Lisa Caldwell – DRE:01267745

Range Homes – DRE:02111757

Copyright 2021 © Range Homes. All Rights Reserved | Privacy Policy

Copyright 2021 © Range Homes.

All Rights Reserved | Privacy Policy

Site by Soto

Request a Callback

Request Training

Event Registration

Can't find what you are looking for?

We are always keen to explore adding new and different events to our community pages. So if you can’t find what you are looking for, let us know today and we will get on to it right away!

Become a Listed Provider

Can't find what you need?

We are always keen to explore adding new and different providers to our website. So if you can’t find what you are looking for, let us know today and we will get on to it right away!

Give us some Feedback

Please enter your email, so we can follow up with you.
Selected Value: 0