The Biggest Regrets Among Relocating Homebuyers in 2022
High home prices and mortgage rates have made relocating even harder, and as a result, many buyers who moved in 2022 were disappointed with their purchases
March 9, 2023
Image: Chris Ryan/KOTO / Stock.adobe.com
A December 2022 poll of relocating homebuyers by Home Bay, a real estate advice website, revealed the most common purchasing motivations and disappointments cited by house hunters from the past year. The most common reasons for moving were for a better quality of life (24 percent), a cheaper residence (23 percent), and the need to upsize (23 percent), The New York Times reports. But for most, relocating wasn’t easy. The poll revealed that 75 percent of respondents had regrets after making their move.
The two most common regrets among relocating buyers were wishing for a larger home and missing the old one. A quarter of respondents moved from cities to suburbs, but roughly 40 percent indicated they’d prefer to live in a city if they could afford it.
You’d think those who managed to find a place in this market would be happy about it. On the contrary, the poll showed that 75 percent of respondents had regrets and 44 percent even reported crying during the process.
