What makes homebuyers happy? Stats show a wide range of preferences make some buyers happier than others

Happiness can often be a hard quality to measure. But when it comes to buying a home, it’s apparently easier to determine what makes folks smile and what causes them to frown. For proof, consider the results of a recent survey of homebuyers by LawnStarter. The poll found that over 15% of purchasers suffer buyer regret. Those with five or more bedrooms are 17% happier with their purchase than those with merely one bedroom. Buyers with homes exceeding 3,000 square feet registered the highest happiness scores, while buyers of tiny homes ranked at the bottom of the happiness scale, as did those who forked over more than $900,000 or less than $100,000 for a property. Other unhappy buyers included those who had to work a second job to pay for their home and buyers who were forced to make major sacrifices to purchase their abode. Also, the more knowledgeable a person is about the purchase process, the happier they are. Fixer-upper buyers and those who bought before the home was built were less happy than folks who claimed move-in-ready homes. Predictably, people who moved nearer to family were happier than those who relocated farther away. Lastly, the LawnStarter survey found that the top five states with the happiest buyers are Iowa, Wisconsin, Nebraska, Alabama, and North Dakota. States with the least happy buyers, in order, include Wyoming, the District of Columbia, Alaska, Montana, and New Mexico. Andrina Valdes, COO of Cornerstone Home Lending in San Antonio, found many of these results fascinating. “What’s interesting is that homeowners who were less happy felt like owning a home was a burden instead of the fulfillment of a dream,” she says. “This makes sense and matches trends showing that, while homeownership is still a major part of the American dream, younger buyers are entering the housing market later in life so they can be fully prepared and feel good about their decision.” Nick Bogardus, Realtor with Columbia, Maryland-based Long & Foster Real Estate, wasn’t surprised that more buyers appear unhappy today than many anticipate. “People take time to adjust to being homeowners and to living in a new neighborhood. And there are unforeseen costs and responsibilities when purchasing a home that they didn’t expect, like maintenance and utility costs,” says Bogardus. “The first year of ownership, in particular, can be quite a shock.” Buyer’s remorse can likely be attributed to lack of real estate knowledge, like not fully understanding mortgage costs and market factors, believes Andrew Saltman, CEO of Carbon Capital in Ponte Vedra Beach, Florida. “Buyers will probably be happier if they account for most expenses in their budgeting way in advance of purchasing. They also need to understand that there are always sacrifices involved when buying a home, regardless of the price point,” Saltman adds. Valdes recommends that home seekers be more realistic to ensure higher buyer happiness, based on their financial and personal situations. “Don’t overbuy or take on more house than you feel good about,” says Valdes. “But take advantage of today’s historically low-interest rates if you can, which gives you more purchasing power — allowing you to buy a home with more square footage, which the study found leads to greater happiness.” Also, “Be honest with yourself and realize that you can’t have it all. So, create a list of priorities and determine what you’re willing to give up,” suggests Caleb Liu, owner of Orange, California-based House Simply Sold. “And consider buying only if you can comfortably afford the monthly payments.” Bogardus says homebuyer happiness is possible, even with all the uncertainties involved with purchasing and owning a house. “Do your best to mitigate these uncertainties and risks in your due diligence period, before you close, and then budget appropriately for upkeep and repairs,” notes Bogardus. “Keep in mind that you can always sell and move in a few years if the home isn’t to your liking.”