Are We Making a Mistake Buying Now?

If you and your partner are asking "are we making a mistake buying now?" — here's the honest answer: you're probably not, as long as you can comfortably afford the payment and plan to stay put for several years. The data on buyer regret is clear — mistakes come from rushing, falling in love with the wrong house, or stretching the budget. They almost never come from buying at the "wrong" time.

That fear you're feeling? It's normal. Let's walk through it together.

Why does buying a house feel like a mistake right now?

Because everything around you is telling you to be scared. Headlines scream about 7% rates, your group chat is full of people "waiting for the crash," and 72% of potential buyers have delayed or paused their home search until rates improve. When nearly three-quarters of buyers are sitting out, jumping in feels reckless — even when the numbers say otherwise.

But feeling nervous and making a mistake are two different things. That knot in your stomach is just the weight of a big decision, not evidence you're getting it wrong.

What do home buyers actually regret most?

This is the part that should genuinely reassure you. A March 2026 survey from Best Interest Financial and Clever Real Estate found that 66% of recent buyers — and 76% of first-time buyers — have some regrets. But look at what they actually regret:

• Paying too much (21%) — the #1 regret
• Not negotiating more (20%) — right behind it
• Overlooking or downplaying red flags (76%) — most often needed repairs (21%) and the price (20%)
• Following their heart over their head (44%)
• Making an offer on a home they weren't sure about just to avoid losing it (36%)

And a September 2026 Clever Real Estate report found about 80% of homeowners have some form of regret, with 55% saying owning cost more than expected — property taxes and maintenance surprised them most.

Notice the pattern? The regrets are about how people bought — overpaying, skipping inspections, ignoring repairs, letting emotions run the show. Almost nobody's top regret is "I bought in the wrong month." In fact, buyers who purchased in 2022 — the peak frenzy year — regret their timing most, at 32%.

How do we know if we're actually ready to buy?

Forget market timing. Run through this checklist as a couple — if you can check most of these boxes, you're ready:

1. The payment fits with room to spare. Not "we can technically swing it," but "we can swing it AND still save and handle a surprise." If one of you lost income for a few months, could you still make it?
2. You have savings beyond the down payment. Closing costs, moving, and the inevitable first-year surprise (87% of homeowners hit unexpected problems — plumbing, HVAC, appliances — per Clever Real Estate) all cost money. Don't drain every dollar to get the keys.
3. You'll stay at least 3–5 years. Buying and selling a house is expensive. If a move might pull you away in 18 months, renting is the smarter play.
4. Your income is reasonably stable. No layoff looming, no major career upheaval planned.
5. You agree on the "why." Are you buying because you want a home, or because you're afraid of missing out? Fear-driven buyers overpay and skip inspections. Buyers with a clear reason — space for the kids, a shorter commute, putting down roots — buy better houses.

If you're checking these boxes, the market timing question is just noise. You're ready.

What's the real cost of waiting another year?

Let's make it concrete with a clearly labeled ~$400K example home in East Tennessee (illustrative example, not a market claim). Knoxville's median rent is $2,049/month in realtor.com's latest data (through August 2026).

That $24,600 in rent is gone forever. And 41% of buyers who delayed purchasing because of mortgage rates now regret not buying sooner. Waiting feels safe, but it's a bet — a bet that rates will fall enough, and prices will stay flat enough, to beat a year of rent. Sometimes that bet wins. Often it doesn't.

How do we buy a house without regretting it?

Since the data shows regret comes from how you buy, here's the anti-regret playbook:

• Get pre-approved before you shop. Knowing your real number prevents the #1 regret — falling for a house above your budget. (44% of first-time buyers made an offer over budget because they loved the house.)
• Negotiate. The #2 regret is not negotiating enough. In today's East Tennessee market — 26% of Knoxville listings carrying price cuts, homes sitting 57 days — sellers expect negotiation. Use that leverage.
• Never skip the inspection. Three in four recent buyers admit overlooking or downplaying red flags, and needed repairs top the list. A few hundred dollars for an inspection is the cheapest insurance you'll ever buy.
• Sleep on every offer. 36% of buyers made an offer on a home they weren't sure about just to avoid losing it. If you're not sure, you're not ready.
• Budget for the surprise. Set aside a maintenance reserve from day one. The 55% of owners blindsided by costs didn't plan for them — you can.
• Buy the house, not the rate. You can refinance a rate later. You can't renegotiate the price, the lot, or the school zone. Choose the right home at a payment you can live with.

The bottom line for couples on the fence

You're not making a mistake by buying a house you can afford, in a place you want to live, at a price you negotiated well. The mistake would be letting fear make the decision for you — either the fear of buying now or the fear of missing out.

Talk it through honestly: does the payment work? Will you stay? Is this a home or a panic purchase? If the answers are yes, yes, and home — then the only thing standing between you and your house is a scary headline.

Frequently Asked Questions

Is it normal to feel scared about buying a house?

Completely normal. Nearly half of recent buyers (45%) had doubts about their decision at some point during the process. A big purchase should feel weighty — that feeling means you're taking it seriously, not that you're making a mistake. Worry becomes a problem only when it paralyzes you into waiting so long that waiting itself costs you.

What percentage of home buyers regret buying?

About 66% of recent buyers report some regret, rising to 76% among first-time buyers, per a March 2026 survey. A separate September 2026 report found 80% of all homeowners have some form of regret — but most regrets are minor: appearance, renovations, maintenance costs. Not "I shouldn't have bought at all."

Should a couple buy a house if one person is unsure?

Not yet. Uncertainty predicts regret: 36% of buyers made an offer on a home they weren't sure about, and many regretted it. If it's just general nervousness, the readiness checklist above can settle it. If it's a real objection — the payment, the location, your life timing — honor it and wait.

Do most people regret buying at high interest rates?

The data says rate regret is rarer than you'd think. The top regrets are paying too much and not negotiating — both price problems, not rate problems. And remember: 41% of buyers who waited for lower rates regret not buying sooner. Rates can be refinanced; an overpaid purchase price is forever.

Source links

• Best Interest Financial / Clever Real Estate buyer regret survey, March 2026: https://www.prnewswire.com/news-releases/stress-and-emotions-drive-66-of-home-buyers-into-regret-302701870.html
• Clever Real Estate homeowner regret report, September 2026: https://www.prnewswire.com/news-releases/80-of-homeowners-have-regrets-about-their-home-with-19-feeling-remorse-within-the-first-month-of-owning-302885288.html
• Realtor.com, "Homebuyers Say Mortgage Rates Need To Hit 'Magic Number' Before They'll Buy": https://www.realtor.com/news/trends/homebuyers-mortgage-rates-drop-neighbors-bank-survey-2026/
• Freddie Mac PMMS, week ending 9/24/2026 (30-yr 7.03%): https://www.freddiemac.com/pmms
• Realtor.com Knoxville TN market data, through August 2026 (rent $2,049, sold $410,000): https://www.realtor.com/local/market/tennessee/knox-county/knoxville

Still going back and forth? Let's talk it through.

I'm Tannor Giles with Your Home Sold Guaranteed Realty — Kings of Real Estate. Half of what I do for East Tennessee buyers isn't showing houses — it's sitting down with couples, running the real numbers, and giving an honest answer about whether the timing is right for them.

Get a free, no-pressure buyer consultation — bring your questions, your worries, and your budget. We'll map out what buying looks like for you right now versus waiting, and you'll leave knowing exactly where you stand. No obligation, no sales pitch.

Your Home Sold Guaranteed Realty — Kings of Real Estate | Serving Knoxville, Farragut, Maryville, Sevierville & Johnson City

Keep reading: Is Now a Bad Time to Buy a House? · Should I Rent or Buy in My 30s?

*Tracy and seller must agree on price and possession date