In a recent survey, nearly half of new homebuyers said they were having trouble paying their mortgage on time, but many are still happy they chose to buy at the time of purchase. said.
According to the survey, Conducted by real estate experts Clever states that 43% of recent homebuyers say they struggle to pay their mortgage on time. About 47% also said they felt financially burdened, according to the report.
A similar number of buyers (about 44%) say they have taken on additional debt other than their mortgage since purchasing their home.
The majority (82%) of those surveyed said they either regretted the purchase or didn’t feel happier. Still, 68% said they were satisfied with their purchase, even if it required a higher interest rate, based on current markets and interest rates.
According to the survey, approximately 23% of respondents said they regret spending too much on a home. A further 23% of respondents said they believed interest rates were too high.
Clever noted in the report that this sentiment among new homebuyers is not surprising, as half of respondents said they accepted a higher-than-expected interest rate to secure a mortgage.
The survey also found that of the 48% of respondents who said they were looking for affordable housing, 37% said they bought a home that cost more than they planned.
The survey was conducted among 920 people who have recently purchased a home or are planning to purchase a home within the next year.
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