Homeownership may be famed for its headaches, from bidding wars to get in the door to the constant drumbeat of repairs around the house, but renters dont have it easy either. In fact, renters are the ones with more regrets, according to a recent Zillow Housing Aspirations Report.
One of their biggest regrets is being a renter in the first place. In this semiannual survey of 10,000 homeowners and renters in 20 of the countrys largest metro areas, 45 percent regret renting rather than buying, which is more than five times the share of homeowners (8 percent) who regret buying instead of renting. If you long to own in a pricey place like Southern California, finding a home sweet home can be a tall mountain to climb. Even with the recent softening of the real estate market, finding a place to hang your hat can be an ordeal.
Housing can also be an investment. The top regret for renters is not being able to build equity and not being able to customize or improve their rentals (52 percent), the report shows.
After a while, feeling like your home doesnt reflect your personality can be a mood killer. The next biggest regret is all about dollars and cents. Half of renters wish the rent wasnt so steep. In a tight rental market, you can end up paying a lot of your income for rent. The average rent for a one-bedroom apartment in the Los Angeles area is around $1,900, according to Apartment List.
Forty percent of renters also feel like their homes are too small (compared to 21 percent of homeowners) and 49 percent believe that they lack private outdoor space (compRead More – Source