Buyer’s remorse is real and it can be a terrible feeling. Buyer’s remorse is characterized as a feeling of regret after making a major purchase. While feelings of Buyer’s remorse can have many different causes, commonly the regret stems from a fear that it was not a good purchase or a feeling of overwhelm that the purchase was impulsive. Here are a few tips to help ensure your home buying experience is a positive one!
Hire the right Realtor.
I cannot stress this enough. A great Realtor who really takes the time to get to know you and your situation will work to safeguard you from Buyer’s remorse by showing you properties that are a good fit based on your wish list and budget and by negotiating deal terms that you are comfortable with. Take the time to interview a few different Realtors and pick the best one for you.
Know your numbers.
In addition to getting pre-approved for your mortgage, really crunch the numbers and understand the impact that home ownership will have on your budget. If you are not sure what additional expenses to take into account when transitioning to home ownership, ask your Realtor. They can provide you with fairly accurate estimates of costs to factor into your budget such as property taxes, general home maintenance, utilities, repairs, and renovations.
Sleep on it.
Do not feel pressured to make a hasty decision on a property. Be sure to give yourself time to carefully consider the pros, cons, and cost of the property before making an offer. If you have doubts about the condition of the property, be sure to schedule a thorough property inspection. If you have concerns about any other aspect of the transaction, be honest with your Realtor and let them know. If your Realtor does not have the answers you need, they will likely have access to resources and information that can help you.
Rest assured that a little bit of fear is normal.
If you are feeling a bit nervous or overwhelmed with your house purchase, rest assured it does not mean you have made a colossal mistake. Buying a home is a BIG deal and fears are a normal part of the process. Most new homeowners feel some anxiety at some point during the process. Home ownership is a significant responsibility and definitely forces you to come to terms with being an adult! If your feelings of fear or anxiety are beginning to override your excitement for the process, talk to your Realtor.
Buying a home should be fun and relatively stress-free. As an Accredited Buyer’s Representative, I work hard to make sure my clients enjoy the process. If you are ready to buy a home, contact me to find out how I can help!