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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