Advice
Five most popular regrets after buying home
24/04/2019 17:05 | Source: Dailymail
When it comes to buying a home, many people may not be able to tick all the boxes on the wishlist, so they settle on what fits close to what they believe is an ideal home.

Although compromising may seem a noble thing to do, this action usually makes home buyers regretting their decision.

“Buying a home is a very emotive purchase. In an ideal world, we would be able to find our dream home in a great location, ticking everything off our list - but for most of us, some compromise is to be expected. But that doesn't mean you have to settle for somewhere that will leave you unhappy,” said David Blake, principal mortgage adviser at Which? Mortgage Advisers.

Five most popular regrets after buying home

Here is the list of the five most common regrets after a home purchase: 

Compromising on location

Most real estate experts agree that choosing the area to live in is very important, but many buyers fail to follow this sage advice, only to regret it later.

One in five had compromised on their preferred area and that a quarter of home owners who settled on location when buying their current property say they now regret it. Notablly, families with children were particularly likely to feel remorse over compromising on location, with 38 percent of those who had chosen a different location now regreting their decisions.

Compromising on structural integrity

The property’s structural condition is also something people were particularly likely to regret making compromises on. The survey revealed one in seven had made compromises on the structure of the property when they bought their home, and three in 10 regretted it. Besides, decoration is also something that 23 percent settled on but with far fewer ruing their decision.

Paying too much

Which? Mortgage Advisers found nearly one in five of those who paid more than they had planned now wish they had not. Many of them make this mistake with researchers finding that 26 percent of respondents surveyed compromised on price.  

Size of home

Next, the size of rooms (20 percent) and garden (17 percent) were also factors people had often made compromises on their home purchase. Buyers who compromised on their garden were more likely to regret it, with 26 percent of those who did so now hate their decisions.

Not comparing enough homes

Too many people make snap decisions and don't take time to look at more options. One in 10 responders admitted to only viewing just one more property before settling on a home choice. Nearly three quarters (72 percent) viewed fewer than 10 homes.