In this Australian Property Podcast episode, your hosts Amy Lunardi is joined by Zara McGuffie from the Australian Business Podcast. They discuss 5 common situations where property buyers face regret (both before buying and after), and how to avoid them.
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Why avoid regret?
Buying a home is a major decision—costly, time-consuming, and with big financial stakes.
Before You Buy:
1. Hindsight Regret – “Should’ve bought X”
- Many wait for the “perfect” market time, often influenced by media or others.
- Identifying the market bottom is nearly impossible—by the time it rises, it’s too late.
2. Missing ‘The One’
- Regret is worse when it’s due to avoidable mistakes.
- Be proactive: understand the process, act fast, get expert help.
- Be financially and emotionally prepared—sometimes the right place comes early.
After You Buy:
3. Buyer’s Remorse
- Wrong purchase for your goals:
- Home: May not suit your lifestyle, partner, or needs.
- Investment: Cashflow issues, poor rental return, or hard to resell.
- Avoid by having a clear strategy and doing proper research.
- If it’s the wrong buy, selling and moving on may be best.
Property issues:
- Missed inspections, contract surprises, poor location factors.
- Do due diligence and accept some things are outside your control.
4. Overpaying or Underbidding
- Appraisals are tough; overpaying can hurt resale if needed soon.
- Value is subjective—comps vs personal worth.
- Many regret not offering more in hindsight.
- Do thorough market analysis and budget smartly.
5. Renovation Regrets
- Underestimate time, cost, and effort.
- DIY plans often fall short—may lead to discomfort and unmet goals.
