Results are in and it looks like homebuyers are more satisfied and more informed when it comes to their big ticket purchase. In a recent Bankrate.com study done by Princeton Survey Research, 90% of homeowners say they don’t regret purchasing their new home. Despite record number foreclosure and unemployment rates, only 9% of homebuyers say they have regrets about buying their current home. The biggest regrets were caused by not being able to sell their home and not being able to make the monthly mortgage payments.
The study took place from June 24 through June 27 of this year and polled 1,001 randomly selected adults. The poll also found that only 8% of homebuyers didn’t know whether or not they had a fixed-rate or adjustable-rate mortgage. This was a huge drop, in the right direction, from the 26% of borrowers who didn’t know their loan type just two years ago when Bankrate commissioned its previous study.
To find out more results from this study including what mortgages have become the most popular and who has the most regret when it comes to new homes purchases, visit Bankrate.com.