Homebuyer’s remorse: most people who bought a house recently have regrets

[GodinDaFlesh]

FOMO buying

 

[Hater Eraser]

 

[Uitomy]

People thought the housing inflation was a great time to buy?

Sure the interest rates were low but it was only good if you got in at like the beginning of 2020 when they first dropped

We’ve experienced a level of advertisement, false guruship, inflation, and straight up scams big and small, that this country has never seen before. All that chaos breeds confusion and false senses of security

 

[Heafcliffe]

The real win in all this is the refinances in 2020-21.

We wont see 2.5%-3% rates for a good long while, if ever.

Checking in, b.

 

[lib123]

It was only a good decision to buy if you sold your house at an inflated value. Horrible time for 1st time buyers.

 

[Spence]

Redfin said my appraised value is up $110k since we bought our home in February

 

[BEN23]

In ny i see homes that are usually 500,000 for 900,000. the shyt makes no sense..if you see the condition of these homes.
in long island the same thing..but even worse they have high property taxes.

People buying homes with no idea of the of upkeep and maintenance of a older home at that..
what im predicting i will see alot of people defaulting and losing home due to major repairs and violations because they have no clue or they waived inspections.

 

[Dafunkdoc_Unlimited]

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[BaldingSoHard]

The real win in all this is the refinances in 2020-21.

We wont see 2.5%-3% rates for a good long while, if ever.

This x1000.

What a great hustle that was.

God. Damn. I'm riding this 2.875% forevaaaaaaah.

 

[⠝⠕⠏⠑]

I don't like the mortgage payment but I also don't regret it when I think about how screwed up some of these landlords can be and how messed up it can be to pay into something that you don't even have the illusion of owning someday.

 

[bourgeoisie tall freak]

for people that want to save money on mortgage (lower monthly payment and interest over time) and have some extra cash to spend, throw that extra money at the principal balance and ask the lender for a "mortgage recast". that's what i did because i would rather pay the PB down faster than pay thousands of dollars on a refinance.

 

[Htrb-nvr-blk-&-ug-as-evr]

bought my house in 2021 and respected my budget.

no regrets and i continue to work and improve my house all the time.

homeowners insurance spiked
though in florida

but since my mortgage was in budget i can handle the extra costs

That insurance gonna spike every year it feels like.. Be ready

…and insurance companies are steadily pulling out of Florida due to the bullshyt with contractors and y’all weather.

 

[GatorStaceyAdams]

Redfin said my appraised value is up $110k since we bought our home in February

Ok- then try and sell it then. Naw but for real, RE is local, so you could simply be lucky.


What is happening is people are looking at the $/sq. ft. So if you bought your house for $500/sq ft. last year, when rates were around 3%, AINT NO WAY a buyer is going to spend the same amount when their financing is nearly DOUBLE that.

 

[Tallac]

Home prices were higher, but mortgage rates are now 6.2%, and they will keep going up. When you look at the numbers, it is not that different.
New constructions have also slowed down, so less inventory next year during Spring when people start shopping for new homes.

 

[50CentStan]

If u got it spend it. Problem is people who dont got it tryna live like those who do