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A recent survey has revealed that roughly half of new homebuyers are finding it difficult to manage their mortgage payments. 

According to the findings by Clever, a real estate analysis firm, 43% of recent homebuyers admitted to struggling with timely mortgage payments. Roughly 47% of participants feel overwhelmed by their financial commitments since purchasing their homes.

The survey further revealed that approximately 44% of these homeowners have incurred additional debts unrelated to their mortgages. Despite these financial burdens, a significant portion of respondents, 68%, expressed contentment with their decision to purchase their homes under current market conditions and interest rates, acknowledging the necessity of accepting higher rates.

Regret is also a common sentiment among the participants, with 82% indicating some form of remorse regarding their home purchases. This includes 23% who believe they spent excessively on their homes and another 23% who are dissatisfied with their high interest rates. 

Clever’s report notes that these feelings are expected as many buyers accepted rates higher than they initially planned.