---
title: Pandemic homebuyers have big regrets
description: The pandemic spurred many to buy homes. But now ~75% of new homeowners say they have regrets.
---

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# [Pandemic homebuyers have big regrets](https://hs-sbup.thehustle.co/news/03292022-pandemic-home-buyers)

 Written by [Mia Sullivan](https://hs-sbup.thehustle.co/news/author/mia-sullivan) | Jul 19, 2022 3:08:06 AM

Wishing you hadn’t splurged on that Peloton is one thing. Regretting purchasing your house, however, is about as bad as buyer’s remorse gets.

With interest rates at an all-time low, the pandemic sparked a home-buying frenzy, as people traded yardless urban rentals for space, stability, and a mortgage.

But now that the dust has settled, [~75%](https://www.zillowgroup.com/news/avoid-6-first-time-homebuyer-mistakes/) of recent buyers say they have [regrets](https://www.nytimes.com/2022/02/04/realestate/home-buying-regret.html), according to* The New York Times*.

#### **Calling the housing market “competitive”…**

… would be a massive understatement. As buyers tried to find an edge, many made *questionable decisions*, including:

- **Waiving inspections:** Moving fast might speed up closing, but if you knew the foundation was cracking you might’ve offered less (or walked away).
- **Buying sight unseen:** It seems crazy to spend hundreds of thousands without seeing the home, right? Wrong, apparently — [63%](https://www.redfin.com/news/remote-homebuying-surges-to-new-high/) of buyers in 2020 made offers without touring the place first, according to Redfin.
- **Underestimating maintenance:** 32% of buyers regret buying a home that needs more work than they anticipated.

#### **Future buyers have a lot to learn**

The housing market is still bananas. The typical US home is worth [$330k+](https://www.zillow.com/home-values/), and values are expected to increase [16.4%](https://www.zillow.com/research/december-2021-market-report-30530/) by year-end. The number of homes on the market has also been [declining](https://fortune.com/2022/03/14/housing-market-key-metric-inventory-zillow-bad-for-buyers/) and is still much lower than pre-pandemic levels.

Although rising interest rates are expected to [cool the market](https://www.wsj.com/articles/rising-interest-rates-will-shift-housings-foundations-11648119600), they may also encourage people to stay put, keeping inventory low and fueling even more questionable decisions that lead to buyer’s remorse.

[View full post](https://hs-sbup.thehustle.co/news/03292022-pandemic-home-buyers)

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