CIPD Reports One in Four Employers Plans Redundancies

First-time homebuyers are increasingly facing buyer’s remorse, with many citing financial missteps, emotional pressure, and unexpected costs as key sources of regret. A significant portion reported feeling rushed into decisions, leading to higher chances of dissatisfaction, particularly among Gen Z and millennial buyers. Lower-income buyers and those lacking financial knowledge were more likely to regret their purchases, often due to underestimating repair costs or skipping home inspections. Meanwhile, homeowners considering major renovations or additions are advised to carefully assess their ability to handle increased mortgage payments and to bolster emergency savings before proceeding, as financial preparedness is crucial for long-term satisfaction. The broader economic climate, marked by rising redundancies, is adding further strain, as unemployed homeowners often struggle to refinance when their fixed-rate mortgage terms end, potentially facing higher payments and increased risk of default. These challenges underscore the importance of thorough financial planning and awareness for both prospective and current homeowners.