'I just can't wait to get out': Nearly three-quarters of pandemic homebuyers hav...
source link: https://finance.yahoo.com/news/just-cant-wait-nearly-three-210000181.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
'I just can't wait to get out': Nearly three-quarters of pandemic homebuyers have regrets — here's what you need to know before you put in that offer
Kay Kingsman bought her very first home in the summer of 2021 — but now wishes she hadn’t.
Kingsman, a travel blogger based in Portland, Oregon, says she decided to buy since she had plenty of money saved up from not traveling during the pandemic and mortgage rates were extremely low.
She and many other pandemic homebuyers rushed into making a purchase that didn’t fully align with their needs — and they’re currently contending with the ramifications.
Don’t miss
Too many Americans are still missing out on cheaper home insurance
Invest your spare change and turn your pennies into a productive portfolio
A TikToker paid off $17,000 in credit card debt by cash stuffing
Kingsman recounts finding beard shavings in the bathroom and the carpet smelling of cat urine when the previous owners vacated. The water pressure was weak and the air conditioning was busted.
She also discovered she had no parking privileges thanks to a messy lawsuit they left behind.
“It's just been a complete headache,” she says.
Many homebuyers either overpaid or made compromises on what they wanted
Nearly three-fourths of Americans who purchased homes in 2021 and 2022 have regrets, according to Anytime Estimate’s American Home Buyer Survey, which was released in September.
“Pandemic-era buyers really faced these unprecedented conditions,” says Amanda Pendleton, home trends expert at Zillow.
“This combination of rising prices, few options to choose from and that extreme time pressure meant that some buyers really ended up at a home that was less than ideal.”
The survey showed that respondents paid a median amount of $495,000 for their home — with almost a third paying over asking.
Eighty percent of buyers also compromised on their priorities, such as finding the right location. Some bought fixer-uppers, while others made offers without even seeing the properties in person.
Like Kingsman, 70% of buyers were purchasing a home for the first time. After seeing a previous listing snapped up within a day, she was determined to not fall behind.
Recommend
-
6
Salesforce skills data - three quarters of us aren't qualified for a digital-first 'Future of Work'
-
14
Samsung's M8 is three-quarters slimmer with a "Shades of Nature" inspired color palette Samsung has announced the
-
2
In its theory section, the Scrum Guide refers to the three elements of empiricism: transparency, inspection, and adaptation. However, a fourth element, foundational to enable empiricism, is hidden in a sentence on Scrum Values. Read on and learn m...
-
4
News Three-quarters of business professionals want to embrace the metaverse Study from ne...
-
6
‘The numbers just don’t work’: While rising mortgage rates have some homebuyers giving up, others think they’ve found a workaroundNancy SarnoffSat, October 15, 2022, 10:0...
-
10
November 30, 2022 ...
-
5
Three-quarters of public comments want Microsoft to take over Activision Blizzard In the UK, at least By
-
5
News Three-quarters of businesses braced for ‘serious’ email attack this year Use...
-
5
Three-quarters of smartphone users suffer from nomophobia: Counterpoint Research
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK