Nearly 8 in 10 first-time home sellers (79%) said they had regrets about their original home purchase, according to a survey of 1,000 respondents.
A new trend is emerging as many who bought homes during the 2020 pandemic are now first-time sellers. According to a survey by Opendoor, 79% of first-time sellers regret aspects of their home purchase, and 91% say those regrets influenced their decision to sell.
Younger homeowners feel the most regret — 94% of Gen Z and 86% of Millennials reported mistakes. Gen Z often bought too soon or failed to consider long-term needs, while Millennials underestimated costs and didn’t factor in inflation. Remote work instability also contributed to seller decisions.
Realtor Fernando Chavarria agrees, noting buyers often stretch their budgets to get into homes without leaving room for repairs or savings.
The idea of a “forever home” is fading. Opendoor found 68% of first-time sellers no longer view their homes as permanent. Many are now prioritizing flexibility, with Gen Z and Millennials seeing homes more as investments than long-term residences.
Affordability remains a barrier. While 40% of Gen Z and 38% of Millennials plan to buy again soon, others are renting or waiting for better conditions. Chavarria suggests lower mortgage rates for first-time buyers could help.
Selling itself has proven stressful — 77% were unprepared, and 75% reported anxiety and exhaustion. Many now prioritize convenience over profit, with two-thirds willing to accept 20% less to avoid the hassle.
Ultimately, today’s sellers are choosing flexibility and peace of mind over traditional homeownership ideals.
