A list of homebuying myths ends with this one:
Myth #6: You bought “the perfect home”
According to a survey by Nerdwallet, 49% of homebuyers had regrets about their home-buying process.
“There are regrets that you can live with and there are regrets that you really want to avoid,” Manni says. “It’s completely normal to regret not having enough space, but you don’t want to regret things like your mortgage or interest rate.”
Manni encourages homebuyers to do their research on home location and take the time to know your mortgage options to avoid feeling stuck down the line.
“Your dream home is not going to be ready and waiting for you — you’re going to have to look,” Manni says.
Regrets can be big or small and making such a large commitment – financially as well as in many other areas – can amplify such concerns. At the same time, what leads people to expect a perfect home in the first place?
A better way to approach this may be to uncover at which point homeowners turn from a twinge of regret to something that pushes them toward a new place to live. What is the tipping point?