Will You be Happy with Your New Home? Statistics Suggest No
Martha Washington once suggested “I am determined to cheerful and happy in whatever situation I find myself.” Inspirational as that may seem, it may be difficult to be happy when it comes to your new home. You may be able to find enough good things about the buying experience to have it outweigh the bad. And yet, statistics suggest your new home buying experience and your happiness are not always the same. You can however be happy with your new home by understanding some of the hurdles you might experience. In other words, let’s see what other home buyers had said.
Move in Ready
You have no doubt heard the phrase turnkey. Real estate folks throw it around as a selling point, suggesting that all a buyer needs to do is unpack and enjoy. And while eighty percent of the people who bought a home that was move in ready, a survey Chase did several years ago found that almost all of these buyers wanted to make improvements right away or as soon as possible.
Knowing What You Know Now
You have heard people voice regret about wishing they knew then what they know now, mostly in reference to something age has taught them. But it is the last thing you want to say when you spend hundreds of thousands of dollars. While we have talked at length about disclosures that are provided by current owners, there may be still numerous unknowns that can make us less than thrilled with the home we just bought. In that survey, almost half of the people queried would have bought a different house at a different price point and even more telling, in a different neighborhood.
The Financial Regret
Because buying a home remains one of the largest financial decisions you may ever make, it is no wonder people voiced angst across numerous facets of the process. More than half thought the financial process was confusing, a third underestimated the relative cost of maintaining thehome, and close behind statistically was their inexperience with closing, the offer, and negotiating aspect of the purchase. One last item they were unsure of was confidence that they were financially able to buy the home.
It should be noted that the above-described survey done in 2014 with 807 home buyers questioned, over a 150 of whom had purchased their homes in the previous four months. Surveys like this are intended to help mortgage lenders identify various road bumps for buyers and theoretically make those obstacles a bit smoother in future transactions. They found that almost half of those surveyed turned to their banker or mortgage broker for information. A larger majority turned to their real estate broker for help.
The Jones Group @ Sunriver Realty has decades of experience with this process. We know buyers will discount certain must-haves simply because they want to live in beautiful Central Oregon. But we want to find the home that makes you completely happy. It can be done. It should be noted, that home buying happiness is just a phone call away.
How can we assist you today?
On behalf of The Jones Group @ Sunriver Realty
Nola Horton-Jones, Principal Broker/Realtor | ABR, C-RIS, e-PRO, GREEN, RSPS, CCIM Candidate
Bryce Jones, Broker/Realtor | ABR, CRS, e-PRO, GREEN, GRI, RSPS, SFR
The Jones Group @ Sunriver Realty | 57057 Beaver Drive | Sunriver, OR 97707
Mobile: 541-420- 3725 | Mobile: 541-420- 4018 | Fax: 541-593- 5123
Licensed in Oregon