American Homeowners Regret Past Housing Purchases

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One-third of homeowners wish they had bought a larger home

July 13, 2017

Photo: Pixabay

According to results from a recent survey, 21 percent of Americans say that a housing purchase made in the past now prevents from from changing their current housing situation. Also, 44 percent of respondents said that they have a regret about their current home or the homebuying process that they endured.

Trulia released its June 2017 survey, a poll of more than 2,200 U.S. adults who either own or rent homes.

When it comes to regrets, 41 percent of renters said they wished that they would have bought instead of rented, and 33 percent said they wished they would’ve rented a larger home. Of homeowners, 33 percent said they would prefer a larger home, and 26 said that they wish they would’ve done more (or less remodeling).

Of the owners who said they have regrets, 71 percent are between the ages of 18 and 34. Half of the respondents who make $100,000 or more annually had housing regrets, compared to 40 percent who make less than $50,000 annually.

Among other notable results, 62 percent of respondents feel that housing costs have become less affordable since 2012, and 26 percent of them say that costs are “much less” affordable.

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