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Survey: What would recent homebuyers do differently?

 

NEW YORK – April 30, 2014 – Though they felt prepared, many recent homebuyers would do more homework and make some different choices if they had a second chance, according to Chase research. The independent survey asked 807 recent homebuyers to reflect on their home purchase for the "What I Wish I Knew About the Homebuying Process" survey.

″ Nine of 10 buyers felt prepared when they bought their home, but in hindsight, 56 percent wish they were armed with more knowledge about the financial aspects of purchasing a home, specifically: the ins and outs of closing (22 percent); making the offer and negotiating (19 percent); and financing a home (15 percent).

″ 39 percent would buy a different-size or different-priced home, or one in a different neighborhood, knowing what they know now.

″ 40 percent said the home buying process took longer than they expected, while 16 percent said it was shorter than they expected.

″ 34 percent said the home cost more than expected; a majority (51 percent) of first-time homebuyers had that sinking feeling.

″ More than 80 percent of buyers considered their home move-in ready, yet 76 percent renovated or planned to renovate in the near term.

Research Now, an independent research company, conducted the online survey from March 10-17, 2014, among respondents who had purchased a home within the last two years.

© 2014 Florida Realtors®

 

Related Topics: Buyer services