• Jessica Taylor Yates

We Spoke To 10 People About Home Buyer's Remorse. Here's What They Said

Omg. What the fuck have I just done?

Omg. Source: Mixposure

So, as some of you will know from my constant basic-bitch whinging in the newsletter, I recently bought and moved into my first property. Yes yes, I'm very lucky, very privileged, homeownership, etc. But gosh, I really didn't think about everything that goes into a place. After two years of looking on and off, my man friend and I eventually bought a place the day we inspected it, leaving no time to realllyyyy think about it or go over the finer detail. In truth, I was so convinced we wouldn't get it that I wasn't that invested when inside the property. I walked in and rolled my eyes thinking we'd never get it. So when we did, I was like...wait. Fuck! Where is it again? How many bedrooms?

There has been a lot to fix. There was no heating, it needed a new kitchen, it has an outdoor laundry. And then there are little things you didn't realise you kind of hate, like the gross af old carpet in the bedrooms, the tiny bathroom, the mismatching paint, the exhausting arguments with your partner over furniture. I feel like I don't even want people over cos it's so messy and shambles-y and not ready. Half of me wishes we just didn't spend on renos and just had gotten turn-key from the beginning. I have to admit, more than once I have thought to myself, 'What the fuck have we done?'

Apparently, this is pretty normal. As Nikki said to me, 'Um Jess, don't you work in Marketing? Buyer's Remorse is pretty much...Marketing 101.' Like, yes, but it's more than that cos it is pretty much THE BIGGEST PURCHASE YOU'LL EVER MAKE and there's a no-refunds policy tighter than Tiger Airways (RIP). It's actually a phenomenon known as 'post-purchase dissonance.' A fancier way of talking about buyer's regret, it basically refers to the experience you have after a big purchase of panic or regret. According to Property Director Cate Barkos in her article for Smart Property Investment:

It can come in many forms; worrying about whether the purchase price was fair, whether the property was the right one, whether a better opportunity could be out there, or even just a ball in the pit of their stomach when they think about the debt they are about to take on.

I wanted to know if others felt the same, and more importantly, if and how they got over it. It seems I was not alone. We spoke to 10 people who recently bought a place and if they too experienced post-purchase dissonance. Here's what they said.

Gerard, 31

"I didn’t have a real big, ‘What the fuck have I done?' moment, but there were bits of 'Oh fuck, who do I call if the shower breaks, or what if I can't sell as much as I bought it for? What if interest rates go up?' But those split-second moments passed quite quickly and gave way to logic. Also, I thought that in the worst-case scenario, I would just sell. But the excitement of it all kind of overtook all the 'Oh fuck!' moments!"

Gab, 32

"Not me, but my partner was questioning our purchase. Especially as we were renovating and realising there's so much to do and needed to prioritise where to put our money. He wasn't sure whether we had done the right thing in buying an old property rather than a new build. He's happy now, but wasn't until we moved in!"

Molly, 31

"I do remember when I first moved in crying a lot and feeling so overwhelmed with it all. I cried hard for about an hour on my living room floor one night because I’d got the wrong cable from Bunnings and thinking it was all just too hard and how I didn’t want to be a strong independent woman anymore. Now that I’ve been there for over a year, I still wish I