Buyers weigh budgets and home priorities
A new survey found 77% of recent buyers exceeded their initial budgets, while some accepted fewer bedrooms, smaller yards or different locations.
Finding the right home often involves balancing price, location and features. A national ServiceLink survey shows how recent buyers adjusted their budgets and property preferences when making a purchase.
In its 2026 State of Homebuying Report, mortgage services provider ServiceLink found that 77% of respondents spent more than originally planned on their current home. Separately, 21% bought a home with fewer bedrooms than desired, and the same share purchased one with a smaller yard.
Buyers made several compromises:
- 29% made a larger down payment than they wanted.
- 29% accepted a higher mortgage interest rate than they wanted.
- 28% took on a larger mortgage than they wanted.
- 15% bought in a neighborhood they hadn’t wanted.
- 15% bought in a school district they hadn’t wanted.
Spending patterns also varied by generation. Among baby boomers surveyed, 53% said they stayed within their original budgets. Millennials and Generation X were the most likely to report spending at least $80,000 more than planned, according to the report.
Exceeding an initial budget doesn’t necessarily mean a buyer purchased a home they couldn’t afford. The survey measured spending against respondents’ original plans.
For real estate professionals, the findings offer a starting point for conversations about what customers need in a home and where they have flexibility.
Before touring properties, buyers can identify essential features, preferences they’re willing to reconsider and a comfortable spending range. Those priorities can help them compare homes when no single property checks every box.
Clear explanations also matter. In the survey, 34% of respondents said they wanted more education from their real estate agent and lender. That creates an opportunity to help customers understand their options and bring financing questions to their lender before making an offer.
ServiceLink conducted the research with Sago. The consumer survey included 1,554 U.S. adults who had purchased a home within the previous two years. Responses were collected Nov. 17–Dec. 8, 2025. The findings reflect a national sample of recent buyers, rather than Florida-specific market conditions.
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