People Shared The Reasons Why They Actually Regretted Buying Their Homes — And It's Really Eye-Opening
"Everything has cost significantly more than we expected."
Home buying is often seen as a sign of financial success, but that's not always the full picture. In fact, sometimes you may realize only *after* moving in that owning a home just isn't going the way you imagined it would.
1. "We just bought a house a couple months ago. With the market the way it is, we didn’t have much time to think, and we panicked. The house seemed great when we saw it for the first time, but we’ve already put in over $1,000 of electrical work, and it’s still not done."
2. "I have absolutely no regrets buying my home, BUT the process was horrendously daunting. No one tells you that."
"No one tells you about putting in offers only for the seller to say you can only have it if you don't do an inspection. No one tells you that you're baring yourself out to everyone and they get to see every single financial decision you've made since birth. I also bought a house alone, and the unpacking along with work in the middle of the summer with no AC raked itself over my mental health. I love my house, but just prepare yourselves for a journey to ownership."
3. "I bought a house two years ago this week. I never wanted to buy a house. I resisted it for years. However, I was having issues with my apartment complex, and I work for a financial institution that gave employees a discounted interest rate. Maybe these were all signs that I should buy."
4. "I bought my first home in a wild sellers' market. The former owner was an electrician, so they should have done great work, right? Nah, they literally wallpapered over the wires and cut every corner possible. Thankfully, the market took off, and we had equity to remodel and fix things. But for a few years, I thought we could die in an electrical fire."
5. "I've been a homeowner since I was 25, and the only thing I regret is not paying attention to the 'little' stuff — how much light there is during the day and how busy the roads are."
6. "I lived with my parents, and shortly after my dad passed, I moved out of the house where I was living for FREE with my mom, who is literally an angel. Nine months in, the roof leaks. The honeymoon phase started wearing off, and I began noticing all the things the previous owners completely half-assed."
"Less than four years in, my fence is falling, and I’m in the process of having my entire roof replaced. I was more concerned with whether I COULD buy a house; I wasn’t considering if I SHOULD."
7. "Don’t listen to people who say you should buy because your mortgage will be cheaper than your rent. There are so many hidden and unexpected costs in home ownership that people don’t tell you about."
8. "We spent way too much on a brand-new house. Then COVID hit. We haven’t done anything to personalize it, and we only use half the space."
9. "Love our house; hate our neighbor on one side. The area, town, house, and everything else are pretty close to perfect for what we wanted, but we have a next-door neighbor and a neighbor across the street who make so much noise! They are literally the ONLY ONES who make noise on the block."
10. "I’m a single woman in my mid-thirties and was perfectly happy in my 750-square-foot studio with my dog. But my parents shoved the idea of an 'investment in a house' down my throat. Now I look around my house at all the absolutely unnecessary crap I’ve accumulated just by being in a bigger space."
"Oh, and my furnace and water heater broke in the same month. Keep it simple; do what works for you."
11. "We bought an old house to fix up. The first mistake was trying to live in a house we were renovating. We were sleeping in the living room for six months."
12. "I don’t regret buying a house, but I do regret buying a 100-year-old one. So many little things started going wrong not long after moving in. The big one was a main sewer line break that had raw sewage (aka, crap) backing up into the basement. Not having $15K to get all the repair work done, my wife and I had to move in with my parents and let the home go."
13. "We recently bought our first home. We do not regret it entirely; we got a good price in the school district we wanted and good taxes for the area. But our inspector missed a lot, and it is costing us."
14. "We regretted buying the house we did. We only had a short time to find a place. We saw five houses in a day, and put in an offer on the first one that same day. I wish I had taken 24 hours to think about it. The house ended up being in an area that we didn’t really like, and it was too small."
"We overlooked those things because we felt so pressured to make an offer so we could close on time."
15. "I actually love my house, but as a first-time home buyer, I was definitely taken advantage of. There were things that should’ve been fixed that weren’t, I wayyy overpaid for my inspection, and I definitely overpaid on closing costs."
16. "I 100% regret buying our first home. It didn’t have any of the things we wanted in a house, except that it was in our budget. It was fully 'renovated,' which we thought meant we wouldn’t have to worry about repairs. Five years of living there and we've made countless repairs because the [previous owners] went the cheap route with everything."
"But that horrible experience taught us what to look for in our next home, which we love!"
17. "It’s not that I regret buying a home — it’s more so I regret buying my home quickly. I was so excited to buy my first home that I bought one that I really liked. The problem was/is, I didn’t think about my future needs and the issues with the home (I was blinded by liking the home and it being my first)."
18. "[It was the] biggest regret of my life. I was renting the house, and the owners wanted to sell. I wanted to buy it but needed more time to save up. I was on maternity leave after a rough pregnancy and delivery when they really started to push me to buy. I was hormonal and felt so overwhelmed by the thought of having to find a new place to rent and move with an infant that I caved."
"Now we’ve been having trouble keeping up with payments, which impacted our credit. We’ve looked at short sale and going back to renting, but our credit is impacting our rental applications. My son is 3 now, and I feel completely overwhelmed and trapped by the debt."
19. "I watched too much HGTV and thought we could buy a fixer-upper. (They were truly the only houses we could afford for the space we wanted, but we got way too in over our heads.) We finally gave up two years after living there and were able to sell it and use the money to buy the house we are in now."
20. "I wished I’d done more research about the area and the impossibility of resale. The house was on the market several times, the final time for about three years. I was in the middle of a divorce, and it was impossible for me to continue to pay the mortgage alone AND a new place, so eventually I had to let it go into foreclosure."
"The bank was actually really awesome, but I couldn’t even get anyone to look at it — in three years, there was ONE viewing. We dropped the price many times, to the point where it wouldn’t even pay off the mortgage. Turns out that the area is so depressed that they can’t give houses away, basically."