The New Homebuyer Worries Survey conducted by U.S. News & World Report’s 360 Reviews has found that 83% of recent home buyers who purchased a home in 2021 or 2022 have experienced homeowner anxiety since buying it and 69% have experienced buyer’s remorse.
Polling 2,000 recent U.S. home buyers, 44% of the survey’s respondents purchased a home in 2021 and 56% in 2022. Top worries for recent buyers include handling unexpected home expenses, inflation and supply chain impacts toward home repair or renovation, and possible natural disasters.
Since moving in, 86% of respondents have had at least one home repair issue with the most common being plumbing (35%), HVAC (34%), and electrical wiring (33%). To cover the costs, 81% say they would feel prepared for repairs up to $1,000.
Respondents largely report having an emergency fund for unexpected home repairs (77%), while 23% do not. In terms of renovations, three in four (78%) recent home buyers agree that inflation has affected their renovation or repair plans, with 70% saying supply chain issues have been a cause.
Environmentally, 74% of respondents worry about the impact of climate change and natural disasters on their homes. Associated with the fears of natural disasters, 52% worry about fires, 49% are concerned about about flooding, and 37% worry about earthquakes.
Recent home buyers are also concerned that the value of their home is declining (45%), and 36% worry about whether they will eventually be able to resell their home. Additionally, 45% worry that their mortgage payment will increase. Outside of economic and environmental factors, over half (59%) of recent home buyers worry about home break-ins.