Buying a home should be one of life's most exciting milestones, but for many UK homebuyers, it's becoming a source of deep regret. Recent research reveals that over a third of recent homebuyers wish they'd made different choices - and for younger buyers, that figure jumps to a staggering 63%.
The reality of property purchase regret
We've probably all felt regret at some time or other over something we bought on a whim - perhaps we rushed into it, whatever we bought is actually too small, or even too big, it's the wrong colour, or it simply doesn't match up to your expectations once you have it in your hands or installed in your home.
Sometimes, you can chalk it up to experience and something to have a laugh about in the future, but the more expensive and permanent that regretful purchase, the more difficult it is to shrug it off, particularly if you can't do anything to solve the focus of that regret. And that regret is compounded by the financial impact.
But how widespread is this feeling of dissatisfaction with our decisions when it comes to purchasing a property?
The scale of homebuyer regret in the UK
Champions of the British homebuyer, HomeOwners Alliance, investigated this issue with comprehensive research involving 1,238 participants, revealing some striking results about property buyer's remorse in today's market.
The headline finding was that over a third (37%) of recent homebuyers regretted buying the property they are currently living in, while this figure rises dramatically to almost two-thirds (63%) of younger buyers who are aged between 18 and 34.
The four main areas where homebuyers experience regret
The assessment of the HOA's survey responses can be broken down loosely into four separate areas that consistently cause buyer's remorse:
Budget and hidden costs
For the 18-34 age group, poor budgeting for property purchases is the biggest factor (29%), dropping to 19% for the 35-54 age group, and 5% for those aged 55 and over. This factors in the costs of any renovations that might be needed, the all-important stamp duty costs (particularly for those first-time buyers now that the government has reset the thresholds from April 2025), as well as understanding the full costs of moving home, such as taking out a survey, the total legal fees, removals, furniture storage, and so on. The most common oversights include underestimating renovation costs, unexpected stamp duty changes, and the full scope of moving expenses that can quickly add thousands to your budget.
Location problems
Unconsidered issues with the location of the property also scored highly with the youngest age group (27%), dropping to 15% and 6% with the older groups respectively. This section takes into account the access to certain amenities such as shops and good schools, transport links, sense of community, whether it's too built up (or too rural), and crime rate statistics. Many buyers find themselves regretting poor transport connections, lack of local amenities, or discovering that crime rates are higher than expected after they've already moved in.
Property features and layout
It's easy to overlook certain aspects of the home when looking for a property with its greatest selling point at the time overshadowing other considerations. Again, it was the lowest age group that exhibited greater regret (17%), dropping to 11% for the 35-54 age group and 4% for the highest group. This considered the size of the property, the availability of outside space, the number of bedrooms, storage areas, kitchen and bathroom, and so on. Common disappointments include insufficient storage space, lack of outdoor areas, poor natural light, or simply choosing a size that doesn't match long-term needs.
Property type and condition issues
Once again, it is the lower age group that shows the highest level of regret (17%), dropping to 11% and 4% for the other age categories. This covers all the other aspects of buying a home, including buying a leasehold property over a freehold, opting for a new-build rather than an older building, going against the general advice and not getting a survey done and finding serious issues after moving in as a result, and not checking on what it would be like to live with the neighbours (noise, friendliness, etc.).
How to prevent property buyer's remorse
It is very easy to be wise after the event, and it's also very seductive to have the heart rule the head when you are choosing the property you want to move into.
But the key to making the right decision on the property is to think about what is essential to you before you go anywhere near poring over the estate agent details of properties. Think about the number of rooms that you'll be needing now and, say, ten years down the line. How important is the community life to you and what amenities need to be accessible? If you are starting a family, schools become an important consideration, too, and the daily grind of getting to and from work matters.
But one of the interesting findings from HOA's survey is not only what the groups have said they regret about their purchase but how the level of regret diminishes with the increasing age: don't be afraid to ask for input from other (older?) people you trust if you are a first-time buyer. They've been through the process and made their mistakes, so you can learn from them.
The most effective prevention strategies include creating a realistic budget that accounts for all hidden costs, researching the area thoroughly at different times of day and week, and thinking about your needs in 5-10 years rather than just today. It's also crucial to always get a professional survey done, talk to potential neighbours before buying, and seek advice from experienced property buyers who've navigated these challenges before.
The emotional impact of property purchase decisions
As HomeOwners Alliance CEO Paula Higgins commented:
"Buying a home is one of the most significant and emotional decisions people make - and our research shows many are left feeling they got it wrong. Younger buyers, in particular, are being hit hardest by the realities of the market: high prices, hidden costs, and the pressure to compromise."
Making your property purchase decision count
There is a lot to think about, and you want to get it right because buying a home is a significant financial investment. Taking time to properly research, budget, and plan can help you avoid becoming another buyer's remorse statistic.
Remember, the property market will always have challenges, but with careful planning and realistic expectations, you can make a purchase decision you'll be happy with for years to come.
Looking for expert conveyancing services to ensure your property purchase goes smoothly? Professional legal support can help minimize unexpected costs and complications during your home buying journey.
Call to get your conveyancing quote started, or to discuss your concerns with your plans to move. Or you can get a quick quote, using Homeward Legal's easy-to-use quote generator.