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What Do Owners & Renters Most Regret About their Living Arrangements?

by Peter Thomas Ricci

Inevitably, there will be some aspect of one’s living arrangements to regret, but how do the regrets of owners and renters compare?

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It’s the most unfortunate of situations – a consumer spends the time researching a home purchase or leasing agreement, studying all the alternatives and weighing all the pros and cons, and then finally, after hours of deliberation, signs on the dotted line…only to regret some aspect of the decision!

How often, though, do such regrets occur? That’s what Trulia set out to uncover in its latest act of statistical wizardry, and its findings were quite interesting.

Dividing its research between renters and owners, Trulia found that 56 percent of renters regretted some part of their renting decision, while 50 percent of homeowners expressed similar regrets.

Though the numbers were similar, the two styles of residency spawned very different regrets. For instance, 34 percent of regretful homeowners wish they had chosen a larger home, whereas 42 percent of regretful renters which they had bought instead of rented; 22 percent of regretful homeowners wished they had researched their home more thoroughly before purchasing, while 18 percent of regretful renters wished they chose a place closer to work; and yes, 14 percent of regretful homeowners wish they had worked with a different real estate agent!

Such stats can only help you in your real estate business. After all, if your clients have reservations about a transaction that they choose not to express, those unspoken views could morph into regrets after the transaction is complete – and unfair as it may seem, they could blame you for those regrets. So, it’s definitely helpful anticipating what reservations they may have regarding their home purchase.

See Trulia’s nifty infographic below for more instances of regret:

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