By Sudiksha Kochi | Arizona Republic
In this hot real estate market, competition for houses often leads to quick purchases which also can lead to buyer’s remorse.
According to a recent Bankrate survey, 64% of millennials aged 25 to 40 are facing regrets after buying a home compared with 33% of baby boomers aged 57 to 75. The survey found that the older the buyer, the less likely they were to have homebuyer regret.
One factor that may explain this divide is desperation; younger homebuyers are more likely to rush into a purchase which can lead them to settle for properties that might not be to their liking.
Factoring in the pandemic, the survey found that homebuyer regrets among millennials mainly fell into two categories: financial and physical.