Home Buyers Remorse -What Their Redo Would Be Like

Recent Homebuyers Divulge What They Would Change If They could have Do-Over, Research Shows.

  • 39 percent would change size, price or neighborhood.
  • 56 percent wish they knew more about the financial aspects.
  • Recent buyers would do more homework to make critical choices if they had a second chance.
  • Although nine of every ten buyers felt prepared when they bought their home, in hindsight, 56 percent wish they were provided with more knowledge- especially:
  • The ins and outs of closing on the house – 22 percent
  • Making the offer and negotiating –19 percent.
  • Financing a home – 15 percent
    Buyer’s post-experienced that there are many challenges and acknowledge there are areas for improvement, like:
  • Locating and financing a new home.
  • Affordability and home value Upfront costs.
  • Mortgage lending, and the paperwork process for a smooth transaction.
  • Essential tips for the first-time and a self-employed buyer.
  • How to negotiate the price of a house.
  • Be aware of a differing neighborhood along with size, and price data and historical trends
  • Overall, respondents stated it cost more than expected.
  • 80 percent of buyers considered their home move-in ready, but in reality, 76 percent have to or are planning to renovate the home now.
  • 66 percent of recent homebuyers sought advice from real estate agents, while 45 percent turned to banks, mortgage bankers and loan officers.

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Source:http://www.businesswire.com/news/home/20140429006147/en/Homebuyers-Divulge-Change-Do-Over-Chase-Research-Shows#.U2OSKvldV8F

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