Property Regret: When Your Home Becomes a Source of Anxiety
Reading through property discussions online lately has sparked some thoughts about the peculiar relationship we have with home ownership in this country. The recurring theme of “property regret” keeps surfacing, particularly from first-time buyers questioning their decisions.
One discussion caught my eye - a young professional wrestling with doubt after purchasing an apartment in a desirable suburb. Despite ticking all the right boxes - great location, manageable mortgage, lifestyle fit - they’re haunted by the nagging feeling that they should have stretched for a house or townhouse instead.
This strikes a chord because it perfectly encapsulates our conflicted relationship with property. We’ve created this bizarre situation where people feel guilty for buying homes they can actually afford and enjoy living in, simply because they might not deliver the astronomical capital gains we’ve come to expect.
Working in tech, I’ve seen plenty of colleagues agonize over similar decisions. The pressure to make the “perfect” property choice is immense, especially in a market where prices seem to only go up. But this mentality of treating every property purchase as primarily an investment vehicle is precisely what’s helped create our housing affordability crisis.
The CBD apartment building visible from my window reminds me daily of how our housing preferences are evolving. While the “quarter-acre dream” might persist in our collective psyche, the reality is that well-located apartments offer a perfectly valid lifestyle choice for many. They’re generally more sustainable, require less maintenance, and often provide better access to amenities and employment.
Living through multiple property cycles has taught me that trying to time the market or predict future growth is largely futile. Property values will always fluctuate, but your home’s true worth lies in how well it serves your daily needs and supports your lifestyle goals.
Perhaps it’s time we challenged this ingrained belief that every property purchase needs to be a stepping stone to something “better.” If your home allows you to live comfortably, build equity instead of paying rent, and matches your lifestyle preferences, isn’t that success in itself?
The real estate industry might not like hearing this, but maybe we need to stop obsessing over potential capital gains and start celebrating when people find homes that genuinely work for them. After all, the point of housing is to provide shelter and enable our preferred lifestyle, not to serve as a get-rich-quick scheme.
Next time you’re caught in a spiral of property regret, try focusing on what your home gives you rather than what it might be worth in ten years. Sometimes the smartest financial decision is the one that supports your mental wellbeing and quality of life, even if it doesn’t promise the biggest return on investment.