If people could revisit their homebuying decisions, 13% would opt for a larger house, 14% would do more research on mortgage lending, and 20% would save more money before buying.
These results from a survey conducted by Harris Poll for online personal-finance website NerdWallet showed that Baby Boomers had fewer regrets than Millennials and Gen Xers. The survey also reported that 41% of buyers said they were not aware of all the lending options available to them during their buying process.
Forty-two percent of survey respondents considered the homebuying process stressful, while 32% said their real estate agent made the homebuying process easy.
Another poll about regrets conducted by Trulia showed about half of people have regrets about their most recent housing decision. Among renters, 41% regretted deciding to rent rather than buying a home. One-third of renters felt more positive about owning a home than they did five years ago, while one quarter say they were more negative about homeownership.
This poll also reported 33% of homeowners who wished they had bought a larger home, while 9% believed they should have purchased a smaller property. Twelve percent of homeowners felt they should have done more remodeling when they bought their current home.
Thirteen percent of parents of children under 18 wished they had bought a house in a neighborhood with better schools compared to 1% of homeowners without children under 18.