‘I was kind of swept up’: Nearly 3 in 4 homebuyers who bought during the pandemic regret it now — here’s how to ensure you’re not one of them

https://www.msn.com ^ | 10/1/23 | Serah Louis

[RomanSoldier19]

Kay Kingsman bought her very first home in the summer of 2021 — but now wishes she hadn’t.

Kingsman, a travel blogger based in Portland, Oregon, says she decided to buy since mortgage rates were low and she had plenty of money saved up from not traveling during the pandemic.

But — like many other pandemic homebuyers — she rushed into buying a home that didn’t fully align with her needs. And now she’s dealing with the consequences.

[metmom]

But — like many other pandemic homebuyers — she rushed into buying a home that didn’t fully align with her needs. And now she’s dealing with the consequences.

That's the consequences of bad decision making.

Think it through next time.

[griswold3]

My mother always said You get what you pay for.

[camle]

poor baby! sounds like she didn’t think things through before she blindly followed the lemmings and dove in. someone call the whahbulance

[cyclotic]

My first house was ideal for us at the time. It was a small starter home that needed lots of work which I did myself. I learned how to sweat pipe, repair walls, run electrical circuits, be a good painter etc. Our second house was better and larger.

Our third and current home was purchased in 2010 after Governess Jenny Granholm (yea, her) ran us and a million others out of michigan due to her failed policies.

Back to a small starter size home because we had no money to buy a bigger one.

I refuse to be house poor so I’m happy with what I have. I’ll neve4 live in an ideal home but I don’t care.

[Chuzzlewit]

I’m only seeing a short article. We all often have regrets, and buying our condo in Rochester for $175,000 was initially a regret, due to the black mold that was later found, but in the end and after remediation it has turned out okay. This is in Rochester, MI and we bought our place in March of 2021. We were living in Los Angeles when we bought the place and trusted our real estate agent to do his due diligence. He did not.

You have to make it work. You don’t have choice. We kept working and I finally retired at 70. House is good now and I love the area. In the end, it cost us right around $85,000 to first get rid of all the black mold and then make the house nice with new windows, flooring, new copper plumbing and finally just this last month, a brand new remodeled kitchen. So 85k between labor and supplies. Same model House down the street just sold for $300,000.

I tell my kids and kids friends to save money - prepare for the future. And that is something I’ll admit is hard to do at this time. But they have to figure it out. They don’t have a choice.

[gattaca]

We had one, got free steaks just to let the guy demostrate it. Ours lasted for years as well.

[DeplorablePaul]

Act in haste. Regret at your leisure.

The only thing learned from this article is that this girl is subject to hysterical panic. She’s a sheep.

[MinorityRepublican]

[USS Alaska]

Anyone that buys property in Portland, OR is insane and she had already lived there and knew the area.

Stupid is as stupid does.

[Varda]

We had the same experience and those were 30 HARD years. We had 4 dogs and kids.

[equaviator]

"in a few years you’ll only be able to buy electric campers."

When I was a kid, my dad brought home a Starcraft pop-up camper with two propane tanks on it and we hauled it with a '69 Buick Skylark or a '70 Chevy Nova. Looking back on it, things would not have been any better or worse without propane for the little furnace, but once we upgraded to the new GMC Motorhome in '73, things may have been a lot worse had it been an all-electric vehicle, especially in the summer of that year in the Southwest where it was hot enough to be running both air conditioning units while driving through the desert. The fridge was always running, and at night we'd have the interior lights on as we went along. The 4-burner stove ran on propane and the water heater was electric. Granted that downtime at the campsite would have been the perfect opportunity to recharge, but now I'm talking about a 26-foot family-sized behemoth of the road that time. The body was a fiberglass shell and we had additional on-demand power coming from the gasoline-powered Oman generator housed in an exterior compartment. According to Dad, the Oldsmobile-made 455 CI engine in it averaged about 10 MPG, which was not too shabby for a 26-footer like that back then.



https://silodrome.com/history-gmc-motorhome

[SaveFerris]

[Best $600 I ever spent. That dang thing lasted 30+ years.]

The wife or the Kirby?

:)

[SaveFerris]

It’s like Wisconsin!! We zip in, we zip out!

[Does so]

My Kirby lasted 50-60 years, bought another at a yard sale to get even more attachments. Lost it in a divorce, so THEY may still be working!

[Sgt_Schultze]

While I generally agree with that philosophy, one needs to heavily consider the neighborhood houses when buying a home. Eventually it will be time to move. If you wouldn’t ever move into one of your neighbor’s houses, potential buyers will likely have a similar aversion to buying your house. Think about, a busy street, run-down neighbor houses, proximity to services/food, and evidence of drug-abuse in the community. In the end, your house IS an investment, even if that isn’t your primary concern.

[Jaysin]

thanks for the story.

America WAS truly a great place......The world was ours. There really was an American dream brought to the world by a great concept called capitalism and anyone could do it if they wanted...

The 2020’s will for sure be the most world changing decade since the 1940’s. And sadly, there are very very few “good guys” running the shows today—There ain;t no Churchills!

The US is very quickly and intentionally being turned into a 3rd world banana republic. When we fall, much of the world will fall with it—There’s going to be a lot of pieces moving on the board and a lot of chaos and jockeying for positions.

[gitmo]

Local newspaper reports some softening in real estate prices...driven by low inventories of houses on the market

Wouldn’t low inventories of houses drive up real estate prices?

[DownInFlames]

We are now in our 3rd and final home until either death or need to go into a nursing home. After all these years as a home owner, my suggestion to 1st time home buyers is to quickly learn carpentry, dry wall and muddying, and electrical. I would also suggest latching on to an older person and ask to be taught these skills. I did this with my father-in-law when we bought our first house. His wisdom was a deal maker in our marriage. Not only did I Lear those skills, it made me a calmer, more understanding Christian husband.

[DownInFlames]

Wow

[larrytown]

Indeed - passing over something that is expensive for something cheap only works if you’re rich enough to just throw it away after using it a few times.