Currently Reading

'Regretfully Yours': Top First-Home Regrets by Generation

Advertisement

'Regretfully Yours': Top First-Home Regrets by Generation


January 9, 2019
Bed in room with open window
Photo: Unsplash/Sandra Kaas

A new survey of American homeowners analyzes what they regretted most about their first home, and how the results stack up by generations: Baby Boomers, Generation X, and Millennials.

The top regret for each age cohort is buying too small a house. Boomers had the largest share, 22 percent, with Gen X (20 percent), and Millennials, (15 percent), close behind. Millennials' additional primary regret was not saving up enough before purchasing, cited by 15 percent of the cohort's respondents. Their and Boomers' second largest regret, cited by 14 percent of each generation's respondents, was underestimating how much homebuying requires. As for those with no regrets, Millennials had the smallest share, 3 percent, followed by Gen X, 7 percent, and Boomers, 12 percent, according to Porch.com's study.

Owning a home has long been a part of the American dream. Having your own slice of real estate indicates you are stable, committed, and responsible. For most Americans, it's the largest single purchase they will make and most likely their biggest asset. For all the excitement that comes with a first home, the ultimate dream can turn into a nightmare when unforeseen problems surface before the ink on the mortgage papers dries.

Read more

Related Stories

Market Data + Trends

Not All Buyers Want More Space—Tiny Homes are Steadily Rising

Larger suburban homes are not the only housing type seeing an influx of interest during the pandemic. Tiny dwellings are popping up for sale or…

Market Data + Trends

Many New-Homes Can Be Just as Affordable Long-Term as Older Homes

Homeowners who may have a higher mortgage due to purchasing a new home still pay the same first-year costs of ownership as a homeowner of an older…

Market Data + Trends

Home Values Increase at Unprecedented Quarterly Rate

Home values experienced a quarterly rise of 3.2% at the end of 2020—the fastest pace on record since at least 1996. For some metros, home values…

Advertisement
Advertisement

More in Category




Advertisement
Advertisement

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.