Nearly two-thirds of millennial homeowners have regrets about their purchase, survey finds
By Deborah Khearns | Bankrate
Homeownership is viewed as the most coveted part of the American dream, but nearly two-thirds of millennial homeowners (63 percent) expressed regrets about their current home purchase — the highest share of any generation, according to a new Bankrate survey.
Overall, 44 percent of homeowners said they had regrets about their home purchase while 56 percent had no buyer’s remorse. Homeowners (18 percent) cited unexpected maintenance or hidden costs as their biggest pain point, with a quarter of millennial homeowners indicating this as their top regret, the Bankrate survey found.
Paying for these expenses can be a shock to new homeowners’ wallets after making a sizable down payment and shelling out cash for closing costs, says Luis Rosa, a certified financial planner in Henderson, Nevada.
