Why do we spend so much time on home ownership as part of this financial planning workshop?
Because of findings like these from a recent survey of home buyers AFTER they closed and moved into their new home!
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56% wished they had known more about the financial process involved, although 9 out of 10 home buyers believed they were prepared when purchasing their home. Those indicating they “should have known more” cited the following as key areas:
The loan closing process—22%
Making an offer and negotiating—19%
Financing—15%
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39% regretted the size, price, or even the neighborhood of their new home.
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40% said the process took longer than expected.
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34% said owning a home cost more than expected.