If you had second thoughts about moving to a new home in 2022, you're not alone.
Three out of four Americans say they had regrets about relocating last year, according to a recent survey by Home Bay, a real estate brokerage. Just under half of the respondents said they cried at some point during the move, too.
Regrets include unexpected costs, the hassle of moving, missing items lost in the move, or simply not liking the new home, according to 1,000 survey respondents who relocated in 2022.
But the number one regret was a tie between not moving to a bigger place and missing the previous home, which was selected by 20% of those surveyed.
- I wish I moved to a bigger place: 20%
- I miss my old home: 20%
- I wish I got rid of more stuff: 19%
- It was too much of a hassle: 19%
- It took too long: 18%
- It was too expensive: 17%
- The move negatively impacted my relationship(s): 17%
- Items went missing: 17%
- I don't like my new home: 15%
- I wish I moved to a smaller place: 15%
Finding a new place can be exciting, but the uncertainty in finding a home you actually like can create a lot of anxiety, as well. That was reflected in the data, too. Of those that moved, 65% said they felt positive emotions like excitement and relief. But 59% of them also felt negative emotions like stress and anxiety.
"Overall, if given a choice, people generally don't want to move. It's a major hassle, there's costs that go with it and there are always regrets from having been comfortable with where you were," says Suzanne Miller, CEO and President of Empire State Properties, a New York based real estate brokerage.
The top reasons Americans moved in 2022 were to improve their quality of life (24%), live in a cheaper area (23%), and get a bigger place (22%), according to the survey.
Some of the regrets — like picking the wrong moving company — reflect the stress of the move itself, which is temporary. But other reasons might be related to the rising costs of shelter which would make it harder to find a big enough place.
"The combination of inflation and increased interest rates led some people to scale back their plans, and that includes moving into smaller spaces," says Nicole Beauchamp, a real estate broker in New York, alluding to rapidly increasing rent costs and home prices in the past few years.
In other cases, it could be that people settled for a home that didn't fit their needs, especially in markets where the supply of homes is more limited.
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