(Closed) SPINOFF: Do you regret buying your home in the last 5 – 7 years?

posted 7 years ago in Home
  • poll: Do you regret buying your home in the last 5 - 7 years?
    Yes : (16 votes)
    30 %
    No : (24 votes)
    44 %
    Sometimes, but what can you do? : (14 votes)
    26 %
  • Post # 3
    317 posts
    Helper bee
    • Wedding: May 2010

    My husband and I bought our house three years ago and we don’t regret it.  However, we have no plans to move for at least another 10 years (and we could realistically stay in this house for the rest of our lives if need be).  I’ve seen the houses in the neighborhood drop in value since we bought, but it doesn’t scare me because we’re in the place for the long term. 

    Post # 4
    404 posts
    Helper bee
    • Wedding: October 2010

    Well, I didn’t buy the house, but my Darling Husband bought it before he met me and now we are stuck in it! A month after he closed on it, the market crashed and  the builder pulled out. This was was a few years ago and we only JUST got a new builder and they just started finishing the half-completed  townhomes and have sold 3! But it will still be a while until we can break even on the purchase price. The new townhomes are being sold for a lot less than what he bought the house for. Sigh. I’m hoping that we will be able to sell it in 2-3 years when we are ready to start our family because right now there is NO room for a baby and all of the stuff required to raise one! *crosses fingers* 

    Post # 6
    6661 posts
    Bee Keeper
    • Wedding: May 2010

    Well, it’s interesting for me to hear you feel this way because i personally think that is the exact reason why inventory in my area is way down right now. We’ve been looking for a long time to buy and it seems like there is less and less available as values continue to decrease. You can tell when someone has no other choice but to sell (having kids and need a house) because those properties are the only ones priced to the current market and they sell right away. But there are a ton that have been sitting with no activity for years and it’s like those people are hoping things will change and the market will turn.

    Post # 6
    7587 posts
    Bumble Beekeeper
    • Wedding: December 2010

    This is an interesting topic. Darling Husband and I are currently searching for a new home together. I bought a house in 2006 and sold it in 2008, before th shit hit the fan. Then moved into a condo. Then eventually moved in with Darling Husband.

    Now that we are searching for a bigger family home, I wanted to see if I could find pictures of my old house to show Darling Husband something. Well it was actually up for sale. It was on the market for $52k less then what they bought it from me for and they had updated the 2 bathrooms too. I couldn’t believe it and I remember thinking I’m so glad that I got rid of it when I did.  So I would have regretted it if I still had it. 

    Post # 7
    1927 posts
    Buzzing bee

    I don’t, but I only bought about 9months ago, so prices were already pretty low when I bought.  Our PLAN is to stay in this house for 5-7 years, but realistically we could stay much longer than that.  We have 3 bedrooms, plus a loft that could be converted to a fourth bedroom, 2.5 baths, and it’s a single family home with a yard. We don’t want more than 2 or 3 kids so even with 3 they could each have their own room.  I would prefer I bigger house if we have 3 kids, but it wouldn’t be necessary.  So I’m unlikely to get into a position where I HAVE to move and sell at a price lower than where I’m comfortable.

    This is why I think people should be really careful about buying a “starter” home.  I wouldn’t have bought something I didn’t have room to grow in.  We have friends right now that are stuck in a 1 bedroom condo that they bought in 2007.  They would have to come up with $40,000 just to get OUT of the house because they are so far underwater.  So they basically can’t have a baby because there is no where to put it and their life is just on hold until the market turns around.  I can’t imagine being in that position.


    Post # 8
    2027 posts
    Buzzing bee
    • Wedding: November 1999

    I don’t regret the home my husband and I live in currently, since we plan on staying here for quite some time, but I certainly regret the house I bought with my sister in 2006. We may never get rid of that stupid thing. It’s worth like $90K less than we paid. 

    So, I would also advise against buying a starter home if there is no room to grow. You just don’t know how it will all play out in the future, and you don’t want to be in a situation like Moose1209‘s friend. I certainly know a couple people in this position at the moment. 

    Post # 9
    1333 posts
    Bumble bee
    • Wedding: May 2014

    Although I am not looking to sell in the immediate future, I have been a condo owner (just me, myself and I) for almost 3 years.  Looking back, I ‘regret’ perhaps not buying something ‘bigger’, like a house, because I bought the condo with a 5-year plan.  Get into something bigger after that point.  As so many bees have said before, with the Market as awful as it is right now, I fear I will not be able to sell it right away.

    However, pushing that fact aside, I do not think I could even really call any of it a regret REGRET bc I am so proud of my ability to do it at all in the first place.  Regardless of how, when or why I trade up, it will always be MY FIRST home 🙂

    With all that said, I had saved enough for a healthy down payment, making the issue of selling it whenever I do not too big of an issue at all.  I have a lot of wiggle room between what I got it for, and what my mortgage payment is to break even, etc.  Furthermore, it is a nice sized condo, so I do have room to grow either with someone, or for future ‘renters’ if I go that route…


    Post # 11
    3943 posts
    Honey bee

    We bought last year, so right now we dont regret it.  Our home is a “starter home”. but there is room to grow. It’s 3 bedrooms, with a finished basement and room to add a 2nd bath. Its in a great neighborhood with a huge yard, but the school system is crappy. Our plan is to stay here for 7-10 years, so our future kids will probably be in elemntary school. If something were to happen, we could stay here forever I suppose, but its not our plan.

    I dont regret buying a starter home. Our mortgage (including taxes, insurance, etc.) is almost exactly what we were paying in rent.  Even if the market doesn’t turn around ever, we like the peace of mind that someday (in 29 years!) we will own our home.

    Post # 14
    1137 posts
    Bumble bee
    • Wedding: September 2010

    Nope! I HATED apartment living. My home may have lost some value but I lived in it and enjoyed it, and now that Darling Husband and I bought a house together, I rent out my old house and make good money from it. Sure, it would be nice to have the option to sell it and make some money, but I don’t regret buying it.

    Plus, you can’t time the real estate market. There was a perfectly good chance that the market could have continued to increase over the last 6 years and we would have been asking “do you wish you would have bought your house 5-7 years ago?” I try not to live regretting things I had no control over.

    Post # 15
    3618 posts
    Sugar bee
    • Wedding: November 2011

    I maybe alone on this, but no we don’t regret it because our home has appreciated despite everything going on in the economy. 

    We started our home search 4 years ago and a year later we finally found a place. During that year we saw prices drop, drop, and drop even more, but we still took the gamble when we found the house we wanted and it’s paid off. You never know when the bottom of the market is until it’s gone. So we lucked out that we got in at the bottom. I know a lot of other people aren’t as lucky, but we stuck with rule #1 of real estate: LOCATION. We also bought something we could grow into so that if our home had dropped in value we wouldn’t need to move for a good 10 years or if ever.

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