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July 25, 2016

5 Common Buyer's Remorse Culprits

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5 Common Buyer's Remorse Culprits

Some home buyers suffer from post-purchase regret. Realtor.com® recently spoke to real estate industry experts to find out what home features tend to spark the biggest regrets among buyers. Topping the list:

1. Buying too big of a home. Buyers may think at the time having a big home is what they want, but after moving in, they may later regret the expense and upkeep of maintaining a big home. Cooling and heating bills can be much higher and just cleaning the place can become a much bigger chore. Also if the room size is big, buyers may find their furniture a mismatch and too small. Urge buyers to bring a tape measure to verify their furniture would work in the space and also to consider the utility bills.

Read more: What's at the Root of Buyer Remorse

2. Awkward layouts. The kitchen island is often a desirable amenity among home buyers – it can add prep space, after all. But “kitchen islands can be a mistake if you don’t take your ‘work triangle’ into account,” Baumbusch says. She urges buyers to walk around the kitchen and consider their usual prepping and cooking patterns.

3. Not considering what’s missing. Architects and remodelers sometimes will remove something from a room to give it a more modern, cleaner feel. For example, “there is a trend to eliminate the bathtub in favor of just a shower,” Baumbusch says. “Some home owners regret that decision because sometimes they find themselves wishing for a nice long soak after a tough day.”

4. Pools. For some home buyers, the pool can become a selling-point that later turns into a source of regret. Pools can be costly and some buyers may fail to consider the all of the additional costs. For example, there’s regularly monthly maintenance and cleaning as well as pools in seasonal areas often are opened and closed by a professional. “It can cost upward of $600 just to open a pool and prepare it for swimmers,” Baumbusch says.

5. Falling for fads. “Today’s popular ice-white appliances, steel countertops, and Edison bulb light fixtures are yesterday’s saloon doors, linoleum, and brass hardware,” realtor.com® notes. “If you buy a house just for its trendy look, you may end up regretting it when the styles change, especially if you have to sell the outdated design.” Baumbusch recommends buyers look for timeless features – classic, well-designed homes.

Source: “Skip the Pain: 7 Things That Will Fill You With Buyer’s Remorse,” realtor.com® (Oct. 12, 2015)