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How to regret-proof your home purchase

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  Published in House and Home on Sunday, September 14th 2025 at 23:16 GMT by Detroit News
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How to Regret‑Proof Your Home Purchase – A Practical Guide for 2025 Homebuyers

In a bustling real‑estate market that continues to shift faster than the seasons, the Detroit News’ September 14, 2025 edition tackled a perennial concern for prospective homeowners: how to buy a house you’ll love, not hate, later on. “How to Regret‑Proof Your Home Purchase,” the feature offers a no‑frills, data‑driven playbook that blends timeless home‑buying wisdom with new‑era tools and local insights. Below is a comprehensive 500‑plus‑word summary of the article’s key take‑aways, including links that the original piece used to deepen the reader’s understanding.

1. Start with a Clear, Realistic Budget

The article opens by stressing that the best regret‑proofing strategy begins long before you even look at the first listing. “Your budget is your north star,” writes lead author Laura Mitchell, a senior mortgage analyst at the Michigan Housing Development Authority. Mitchell recommends the following steps:

1. Compute your true monthly out‑of‑pocket cost: Include not only principal and interest but also property taxes, homeowners insurance, HOA fees (if any), and an estimated 1–2% of the purchase price for maintenance.
2. Use the 28/36 rule: Your housing costs should not exceed 28% of gross monthly income, and your total debt (including the new mortgage) should stay below 36%.
3. Add a buffer: Set aside a 10–15% contingency for market swings or unexpected repairs.

The article links to the Detroit News’ own “Home‑Buying Budget Calculator” (https://www.detroitnews.com/tools/housebudget) for readers who want an interactive version of the formulas above.

2. Get Pre‑Approved, Not Just Pre‑qualified

Mitchell highlights a common mistake: accepting a “pre‑qualification” from an online lender and then falling for a higher‑rate loan later. Instead, she urges prospective buyers to obtain a formal pre‑approval letter. This not only tells sellers you’re serious but also locks in a rate and helps you gauge the exact price range you can afford.

The piece includes a link to a local bank’s pre‑approval portal (https://www.detroitbank.com/preapproval) and a side‑note that some mortgage brokers provide a free “rate‑comparison” spreadsheet, which the article cites as “essential for the data‑driven buyer.”

3. Investigate the Neighborhood Beyond the Checklist

A recurring theme in the article is that a house is only as good as the community around it. The Detroit News article goes beyond the usual “school rating” check, recommending that buyers:

• Review zoning maps: Check for future development or rezoning that could affect property value. Detroit News cites the city’s open data portal (https://data.detroit.gov/) as a free resource.
• Walk the neighborhood in different times of day: “You can’t judge a town by a single evening walk,” says Mitchell.
• Speak with neighbors: Many potential buyers skip this step, but it offers invaluable anecdotal insights into noise levels, local crime, and community sentiment.
• Use the Detroit News’ “Neighborhood Report” series: The article links to several of these reports, covering everything from average walk scores to the number of active community groups.

4. The Home Inspection is Non‑Negotiable

The article devotes a substantial section to the importance of a professional inspection. Mitchell notes that a well‑documented inspection can uncover hidden problems—leaking roofs, mold, outdated electrical wiring—that could end up costing thousands in repairs.

Key points from the article include:

• Schedule the inspection as soon as the offer is accepted to keep the seller motivated.
• Ask the inspector to provide a “repair cost estimate” for major issues.
• Consider a second opinion for major structural concerns.
• Leverage the Detroit News’ partnership with a local inspection service (https://www.detroitinspections.com/) to receive a 10% discount on first‑time inspections.

5. Understand the Mortgage Landscape – Fixed vs. Adjustable

Mitchell explains how the type of mortgage can be a source of regret if it’s chosen without a clear understanding of personal financial goals. The article breaks down:

• Fixed‑rate mortgages: Ideal for buyers who plan to stay >7–10 years or who want predictable payments.
• Adjustable‑rate mortgages (ARMs): Can be attractive initially but may become expensive if interest rates rise.
• Interest‑only loans: Usually a risky choice for the average homeowner.

The Detroit News feature links to a recent study from the Federal Housing Finance Agency (FHFA) that shows interest‑rate trends for the past decade, providing context for readers.

6. Factor in Future Life Changes

Mitchell reminds readers that life is unpredictable: job moves, family expansion, health issues. The article urges buyers to consider:

• Resale value: Does the home have “liability” features (e.g., a roof that will need replacing in 3 years)?
• Future renovation plans: Is the kitchen space modular enough to accommodate a future addition?
• Accessibility upgrades: Are there easy ways to install a ramp or stairlift later?

The Detroit News includes a link to a “Future‑Proofing Checklist” that can be printed and checked off during the decision process.

7. Protect Your Purchase with Insurance and Warranties

The piece concludes by urging buyers to consider additional layers of protection:

• Title insurance to safeguard against property title disputes.
• Home warranty plans for HVAC, plumbing, and electrical systems—especially useful in older homes.
• Flood and earthquake coverage if you’re in a high‑risk area, which many standard homeowner policies do not cover.

The article links to a comparison tool (https://www.detroitinsurance.com/compare) that helps readers weigh the costs and benefits of different insurance riders.

Bottom Line

“Regret‑proofing” a home purchase isn’t a myth or a wishful idea—it’s a systematic approach grounded in numbers, data, and foresight. By tightening your budget, securing pre‑approval, vetting the neighborhood, insisting on a thorough inspection, selecting the right mortgage, anticipating future needs, and reinforcing your investment with insurance, you position yourself to enjoy your new home without the sour aftertaste of regret.

The Detroit News’ feature not only lists these steps but also arms readers with practical tools—budget calculators, inspection discounts, and real‑time data portals—making the path from “I want a house” to “I own a home I love” clear and achievable.