80% of Homeowners Report Buyer's Remorse, With Timing and Appearance…

Event summary

80% of homeowners have regrets about their home, with 19% feeling remorse within the first month of ownership.
66% of homeowners regret the appearance of their home, citing outdated bathrooms, kitchens, and flooring as key issues.
55% of homeowners say owning a home has cost more than expected, with property taxes and maintenance being the biggest surprises.
41% of homeowners wish they could move, but 60% say rising home prices have made them less likely to do so.
92% of homeowners still believe buying was a good financial investment despite their regrets.

The big picture

Clever Real Estate's report highlights significant buyer's remorse in the housing market, particularly among those who purchased in 2022. The data suggests that homeowners are grappling with unexpected costs and aesthetic disappointments, which could influence future buying decisions. Despite these regrets, the majority still view homeownership as a sound financial investment, indicating a complex relationship between satisfaction and perceived value in the real estate market.

What we're watching

Market Timing Impact: How the high regret rate among 2022 homebuyers will affect future market sentiment and buying behavior.
Renovation Trends: Whether the prevalence of appearance-related regrets will drive demand for home improvement services.
Mobility Constraints: The pace at which rising home prices will continue to limit homeowner mobility despite dissatisfaction.