As a licensed real estate broker working with first-time homebuyers in Texas and the author of the First-time Home Buyer’s Handbook, I have seen firsthand the challenges of buying a home. Buyer’s remorse is one of the hardest things to avoid, so I’d like to give some tips to first-time home buyers.

In the past 12 months, 78% of American homeowners have had regrets about buying their homes, according to the Hippo Housepower Report. More alarming is that 49% of those who regret their purchase say that homeownership is more expensive than anticipated, and 47% say there are too many unexpected issues with their house. Another 47% say there is too much maintenance and upkeep involved, and 46% say they had to compromise on things they really wanted for their home.

The report says that pandemic buyers are more likely to have buyer’s remorse than non-pandemic buyers. 87% of those who bought a home quickly during the pandemic regrets their choice. Over half of the homeowners have had something unexpected go wrong (59%) and believe homeownership has been more difficult than expected in the last 12 months (68%).

According to a recent survey, there are several reasons why homebuyers experience buyer’s remorse. The top reasons include spending too much (30%), buying too quickly (26%), their home requiring too much maintenance (25%), buying a fixer-upper (24%), and feeling pressured to make an offer (21%). Additionally, some homebuyers regret buying sight-unseen (17%), don’t like their home’s location (15%), don’t like their neighbors (15%), or simply don’t like their home (13%). These numbers indicate the importance of taking the time to carefully consider your options and prioritize your needs before making a purchase. Working with a trusted real estate agent who can help you navigate the home-buying process and avoid these common pitfalls is essential.

These shocking numbers show how important it is to do your research and be completely ready before buying a home. First-time home buyers must therefore keep up with the latest housing market news. Housing affordability is a problem as interest rates continue to rise. Buyers can make wise decisions about buying a home by staying current with these trends and fully understanding how they affect the market.

To avoid buyer’s remorse, think about your needs and priorities, work with a trustworthy real estate agent, and be ready for problems you didn’t expect. It can also be very helpful to expand your knowledge about the home-buying process and look for useful resources, such as my First-time Home Buyer’s Handbook.

However, doing your own research and asking questions if necessary is also important. You might have concerns about the process or how the housing market will affect your future as a homeowner if you are a first-time home buyer. Ask your agent or contact me directly if you have any questions; don’t hesitate to do so. Just ask because no question is too silly.

My book can also help investors thinking about buying investment properties and real estate agents who want to educate their clients. The more information you have, the better decisions you can make.

My newsletter, which covers important topics like housing inventory and interest rates, is one resource I highly recommend. Signing up for my newsletter lets you get regular updates and insights you won’t find in mainstream media. This information can help you make better decisions and lessen the chance of buyer’s remorse in the future.

Buyers, investors, and agents can stay informed about the most recent housing market news and learn more about the topics I cover. While I may only cover some of what you need to know, my newsletter can point you toward discoveries that will help you better understand the complex world of real estate.

To summarize, purchasing a home is a significant investment, and it is critical to be well-informed and prepared before making a decision. Using my resources, you can make informed decisions and feel confident about your purchase.