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Buyer Regrets

The home purchasing process is complicated and overwhelming, even the most prepared buyers can overlook something that may affect their new home or lifestyle later.


Below you’ll find a list of the top things buyers wish they hadn’t overlooked when purchasing their new home:

Future Development

If you purchase a new home in a developing area, you can expect to hear construction nose for years to come. This also applies if you live near a highway or in an older neighbourhood that’s on the verge of regentrification.


Always review the Official Community Plan for your area, this will give you a good idea of what’s expected over the next 10+ years.

Skipping the Final Walk-through

While most purchasers will leave their homes in excellent condition for the buyers, there are a few that may not. This is extremely important if you’re purchasing a home that was being rented and disgruntled tenants are being forced to move out sooner than they had hoped.


Your final walk-through is a great way to see the home near empty, ensure no last-minute damage was done, and start planning any updates you’d like to complete prior to move-in.

Commute

If you’ve viewed the home on a quiet Sunday afternoon, you may find yourself extremely surprised on Monday morning stuck in traffic while trying to get to work.


Be sure to research the route and be aware of any regular problems which may cause holdups or traffic jams that may take away from your valuable time with your time. 


Size

Nearly 20% of buyers have regrets about the size of the home they purchased.

Generation X and Millennials often regret not buying a larger home. As their families grow, they wish they had more space, bedrooms, and a larger yard.


Whereas the older generations tend to wish they had purchased something smaller. Their children have left home and they don’t require the extra space any longer, nor do they want or require the huge yards that take up so much time and effort. 


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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.