These Are the Biggest Regrets People Have After Selling Their Homes
Buyers are not the only ones feeling the pangs of remorse when it comes to a home purchase. In fact, sellers also feel the anguish associated with letting go of their well-loved home. You see, choosing to sell a home is a big decision in itself. Then you toss in the memories of how dirty your hands got when you gutted the kitchen or planted that perfect garden, and you have yourself a recipe for some serious seller’s remorse.
Be advised that seller’s remorse is a very real thing. Unbelievably, some homeowners have such a bad case of regret, they end up buying back their old homes. In an effort to keep such remorse at bay, make sure you aren’t following suit to end up with some of these biggest home-selling regrets.
1. Sold at the wrong time
The real estate market ebbs and flows. And as your home gains and loses value, instincts and pure economics would advise any seller to take down the “for sale” sign if the market takes a turn for the worse. The unfortunate part of that equation is if a homeowner is unable to wait out a slump. It’s in those pickles of a situation that sellers experience remorse — remorse for the money that could have been made had they waited to sell or remorse for not having more patience.
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2. The new owners don’t care for the home the same way
A lot of blood, sweat, and tears goes into making a house a home. You purposefully kept the home in tip-top shape, religiously raked and mowed the yard, planted gardens and flowers, edged the driveway, and trimmed the hedges. So when you slowly drive by or get a call from an old neighbor to learn that your former home is disheveled and unkempt, a shock rushes through you — a feeling you never expected to experience. And the worst part? There is absolutely nothing you can do about it.
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3. Emotionally traumatized
This home was the home where you raised your children. You watched them learn to walk, talk, and climb trees in this home. You hosted some of the most eventful dinner parties out of the kitchen. Plus, so many of the memorable and fulfilling holiday traditions came by way of living in this home. Walking away from all of that can be downright heartbreaking for many homeowners. Sometimes leaving all of that behind is the hardest part.
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4. Bigger or smaller was not better
Downsizing or upsizing from a previous home can sometimes prove to be less than favorable. In fact, many homeowners who sold in order to upsize realize they’ve bitten off more house than they can chew. The upkeep of a larger house ends up being a burden, and homeowners regret ever wanting something bigger in the first place. On the other hand, homeowners who choose to downsize may end up feeling like they are on top of one another, wishing they would have kept the extra room. Be sure of what you really need and want before springing to sell.
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5. Financially, you made a huge mistake
The financial opportunity and risk that comes with offloading one of your largest assets can be great. But when it comes to financially regretting your decision, odds are your investment portfolio became less appealing and less valuable. When your debt to income ratio no longer makes sense, the reality that selling your previous home put you in a financial bind is a hard pill to swallow.
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6. The new owners did a terrible remodel
How could anyone ever remodel that kitchen or bathroom that you poured so much of your design love into? Or what about that beautiful magnolia tree the new owners had removed? Seeing or hearing that some of your favorite aspects of a home quickly became a thing of the past is maddening. Did you sell your home to the wrong people? Are your old neighbors cursing your name? These are all thoughts that stem from the regret of selling your home.
Next: Know when to bow out.
7. You simply didn’t say ‘no’
There are a host of reasons people choose to put their homes on the market, but those reasons are not always valid. Often, the urge to sell stems from other factors in play — divorce, the death of a family member or close friend, or an empty nest. Whatever the case may be, it’s critical that a homeowner feels confident in the decision to sell, otherwise, a case of seller’s remorse could be lurking around the corner.