Homeownership, for many, is a significant component of achieving the whole American Dream. But some who attain it later regret it. Why? And who is most likely to face such a quandary? A survey from LendingTree, published just before Mother's Day, revealed that moms are twice as likely as dads to regret buying their current home.
LendingTree's Crissinda Ponder penned the article summarizing the research in which analysts examined "the relationship between parents and how they feel about the homes they lead."
About one in four, 27% of mothers said they wished they had purchased a different home. Only 14% of fathers felt the same. Altogether, almost one in five or 19% of parents said that knowing what they know now that would have opted for another property.
The following are reasons parents gave for disappointment in their existing abode:
- 23% want a larger kitchen
- 14% wish for more outdoor space
- 11% are dissatisfied with the location of their home
- 9% desire more storage and closet space
- 9% believe the overall layout of their home could be better.
Well, what do dissatisfied homeowners plan to do about it?
According to LendingTree, a majority of homeowners with children are considering listing their homes. This, of course, has much to do with today's housing market conditions, which highly favor the seller.
"Many homeowners with children 18 and under are thinking about relocating. Today’s housing market is prompting nearly two-thirds (64%) of parents to consider selling their home to find their dream home," noted Ponder. "Perhaps parents’ level of frustration determines how motivated they are to move. More than one in five (22%) moms and dads feel frustrated about their home almost daily. Another 17% report feeling frustrated about it once a week."
In many a case, the stress caused by the aforementioned house shortcomings could be alleviated by hiring professional designers, organizers, remodelers and the like.
"Nearly two-thirds (64%) of survey respondents say they would experience a less stressful life if they could remove the pain points their home causes. When broken down by parents, 72% of dads and 54% of moms feel this way," Ponder said. "Some professional help could alleviate pain points for some homeowners. More than 4 in 10 (42%) say they’ve considered and used a design service or expert organizer for their home. Another 1 in 4 (25%) mulled over hiring a design or organization expert, but haven’t yet taken any action."
In the past year, about half of all homeowning parents have spent more on home decor than usual. Two-thirds have hidden the purchase, or its cost, from their spouse, LendingTree reported. It's not surprising that social media influences homeowners' desires for different home accessories and attributes, but some might be surprised to know that dads are more heavily influenced by social media than moms.
"Our survey found that 90% of dads have purchased an item for their home that they saw on social media, compared with 73% of moms," Ponder said.