Nearly Half of Homeowners Have at Least One Regret About the Purchase of Their Current Home
May 14, 2025
Among homeowners with regret, 42% say maintenance and other hidden costs are more expensive than expected
NEW YORK – May 14, 2025 – Nearly half of current homeowners (45%) say they have at least one regret about the purchase of their current home, according to a new Bankrate survey. Among those homeowners who have regrets, over 2 in 5 (42%) say that maintenance and other hidden costs of homeownership were more expensive than expected. Click here for more information:
https://www.bankrate.com/mortgages/home-affordability-report/
Among homeowners with some type of regret about the purchase of their current home, buying too small of a house (21%) was the second most common regret after costlier-than-expected maintenance and hidden costs. Other regrets include the mortgage payment being too high (16%), overpaying or paying too much for the house (15%), buying a house in a bad location (14%), buying too big of a house (11%), not getting the best mortgage rate (10%), and not thinking it’s a good investment (6%).
“For most folks, buying a home is the most expensive transaction of their lifetime,” said Bankrate Senior Economic Analyst Mark Hamrick. “After the purchase is complete, we find that affordability issues rank high on the list of regrets. While homeownership is still associated with the proverbial American dream, it is prudent to consider and plan for many ongoing costs of ownership, not just getting over the threshold of the down payment and settlement.”
Regrets for certain aspects of homeownership vary by generation. Older generations are more likely to regret high maintenance costs and younger generations are more likely to regret high mortgage payments/rates.
| Regret | Millennial homeowners with regrets (ages 29-44) | Gen X homeowners with regrets (ages 45-60) | Baby boomer homeowners with regrets (ages 61-79) |
|---|---|---|---|
| Maintenance costs higher than expected | 37% | 48% | 43% |
| Mortgage payment is too high | 22% | 17% | 10% |
| Did not get the best mortgage rate | 16% | 10% | 8% |
On the other hand, over half of current homeowners (55%) say they do not have any regrets about purchasing their current home. This tendency rises with age, with baby boomer homeowners (58%) the most likely to express no regrets, followed by slightly more than half of millennial homeowners (54%) and 52% of both Gen X and Gen Z homeowners.
Homeownership is still a goal for many in the United States, with 82% considering homeownership to be a part of the American Dream, and the majority of homeowners say they would buy their current home again if they had to do it all over again (70%). Just 17% said they would not buy their current home again, and 13% said they didn’t know.
“While some homeowners have a regret about the purchase of some kind, it is telling that the vast majority would do it all over again if they had the chance,” Hamrick added. “For those who might yet purchase a replacement home in future years, whether buying larger or downsizing, some of these would-be lessons learned can prove useful.”
Methodology:
This survey has been conducted using an online interview administered to members of the YouGov Plc panel of individuals who have agreed to take part in surveys. All figures, unless otherwise stated, are from YouGov Plc. The total sample size was 2,487 U.S. adults, of which 1,363 are homeowners. Fieldwork was undertaken between April 2-4, 2025. The survey was carried out online and meets rigorous quality standards. It gathered a non-probability-based sample and employed demographic quotas and weights to better align the survey sample with the broader U.S. population.
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For more information:
Abby Yarber-Hartness
Public Relations Specialist
abby.yarber@bankrate.com
(704) 697-1372
Bankrate