Most millennial homeowners have buyer's remorse

1

Millennials are weak sauce. :-1:

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@harriet needs to say something about this insult…

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Surveyed the wrong crowd, but the media desperately needs a headline grabber. Nobody wants to read news about millennials wanting to buy more properties.

Although some of it is true. My friend’s coworker bought a house in SF about two years ago, had buyer’s remorse and ended up selling the house after holding onto it for several months. Realtors love people like him.

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Why did he sell? Sounds like a loser. :-1:

5

I never regretted buying. Have regrets on a few sales though.

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Misleading article. It says 44% of all homebuyers regret over maintenance, location, size, etc. Most of these people still think it is better to buy than rent, their “regret” is only about imperfects. Put it another way, they don’t regret about buying, they just wish they bought a perfect house.

Maybe millennials have a higher expectation on everything and they wish they bought a perfect house that needs no maintenance, in a perfect location, with perfect size and amenities, and appreciates perfectly.

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“They had regrets about buying” is different from “they regret they bought”. Journalists play games of words with the mass audience

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Problem is most millienials were never made to do chores around the house. They never learned from their parents, most of whom were not handy either. My mom taught me from 8 years old how to be handy. And I had to do chores for my allowance. I helped her maintain and improve a 1920s Berkeley Maybeck style house. It formed my whole life and career. Learn home maintenance. It is easy with YouTube. Very satisfying and saves money.

Another issue is making a decision and sticking to it. Divorce is too easy, Nobody takes responsibility for their actions. And you can return anything to the store. It is too easy to walk away from comittments like a mortgage
This has lead to generations that have no determination or grit. They give up too easily. Owning a home is a commitment that is too hard for this generation to accept.

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Hi BABG and Elt1,

I recently launched a home maintenance service that helps millennials (and all owners) with this frustration. I’d love to get your feedback on what we’re doing. Please head over to this post if you’re interested in sharing your thoughts. Thanks!