7 Things Homeowners Do (& Don’t) Regret
Introduction
Owning a home is a significant milestone and can be the largest asset you'll ever own. Between buying a home and maintaining it, there are many decisions to make. Some of these choices are celebrated, while others can lead to regret. Here are seven things homeowners often do (and don't) regret.
What Homeowners Regret
1. Buying a Home That’s Too Big
The thought of a big house is exciting, but it often comes with regrets. Many homeowners wish they had chosen a smaller home due to the hidden costs beyond the purchase price and mortgage payments, such as property taxes, maintenance, and unexpected repairs.
Image Description: Illustration showing the hidden costs of owning a big house, including taxes and maintenance.
2. Buying a Home in the Wrong Location
Location is crucial and something that can't be changed. Many homeowners regret buying a house in a less-than-ideal location due to issues like proximity to highways or long commutes.
Image Description: Infographic showing the impact of a home's location on homeowner satisfaction.
3. Buying a Home Too Quickly
Rushing into a home purchase can lead to regrets. Homeowners who hurried their decision to meet a deadline, such as starting a new job or the birth of a child, often wish they had taken more time to find a better house at a better price.
Image Description: Illustration showing the pitfalls of rushing into a home purchase.
Decisions Homeowners Don’t Regret
4. Updating the Kitchen
Kitchen renovations are often a rewarding investment. Kitchens have evolved into gathering spaces for family and friends. According to Remodeling Magazine, investing in a $15,000 kitchen update can yield a 92% return when selling the home.
Image Description: Before and after images of a kitchen renovation showcasing modern updates.
5. Adding an Outdoor Living Space
Adding a deck, patio, or screened-in porch can maximize yard space and provide additional living areas. These outdoor spaces are especially valued by homeowners with smaller homes.
Image Description: Illustration of an outdoor living space addition, such as a deck or patio.
6. Finishing the Basement
Transforming an unfinished basement into a functional space like a home gym, playroom, or recreation room is a common project that homeowners do not regret. Adding an extra bathroom can further enhance this space if plumbing allows.
Image Description: Infographic showing the benefits of finishing a basement, including additional living space.
7. Hiring an Inspector
While not mandatory, hiring a home inspector can prevent future stress and expenses by identifying major and minor issues before finalizing a purchase. The average cost of a home inspection is $315, which many homeowners find to be a worthwhile investment.
Image Description: Illustration showing a home inspector identifying potential issues in a house.