March 13, 2020   |   Jack Taylor

Buy in haste, repent at leisure

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44% of homeowners feel buyer’s remorse, a new study has revealed. 

Nearly half of people having recently bought a house have reported that if they could turn back the clock, they wouldn’t purchase the same house again. Reasons cited included problems with heating and plumbing, the house being too small, and problems with neighbours. Another commonly reported reason was not liking the surrounding area or being too far from friends and relatives. 

What can be done to curb the problem? The advice from top estate agents is unequivocal, don’t be pressured into anything. A home is one of the most expensive, and biggest, purchases you’re ever likely to make. You should be absolutely sure you’re happy with it before you make any kind of commitment. 

Ian Bythell, Petty Real company director, says “when you buy a house you should make sure all the surveys are done and every kind of evaluation. Doing your homework – no pun intended – will save you a lot of bother later on, especially with things like repair bills and renovations.”

The most important thing is not to be pressurised into buying anything, and if people do begin to put you in a position where you feel like you’re being pushed a particular way, ask yourself why! If you’re parting with a great deal of your hard-earned money, you are well within your rights to take your time and walk away if something’s not right. 

The buying process can be stressful and difficult. Don’t make a mistake by being pressured into a quick decision. It can’t be a coincidence that nearly 60% of property owners felt like they were rushed into making a purchasing decision. The old adage holds true: buy in haste, repent at leisure. The problem is that your home is meant to be your safe place where you can relax and feel happy. It’s a real shame that for so many people it just isn’t the case. 

According to the study, those living in terraced houses are most likely to regret their choice (39%), then semi-detached property owners (29%), closely followed by detached (25%) and then bungalows (13%).

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