How To Avoid Home Buyer’s Remorse

At some point in your life, it’s common to feel some kind of buyer’s remorse. Whether it’s a small item at the store that you bought on an impulse or a car that you bought that you wish you wouldn’t have spent so much money on, there is likely something that has made you want to go back and return it or change the situation somehow. Buying a home is probably the biggest purchase you’ll make in your lifetime, so when you go into it, keep in mind some simple things that will help you avoid having buyer’s remorse. Once you sign on the dotted line to become a homeowner, be sure that you’ll feel excitement….not remorse!

Tip #1: Find a realtor that is focused on your needs and wants.
When you’re searching for a home, work with a Realtor that understands your “must haves” and “would likes” so you know that he/she has your best interest in mind. If your agent doesn’t have a clear idea of what it is you need or want in a home, you’ll waste time and likely end up feeling frustrated. On the flipside, remember that homes on the market now are moving very quickly and you have to be ready to make a decision. Know what you want from the get go and know what you can spend. Get prequalified right away so you know the financial portion of the home buying process.

Tip #2: Don’t compromise on your core requirements.
Keep your core requirements at the core! It’s easy to find a house that “almost” fits the bill, but if it doesn’t have the core of what you need, keep shopping. For example, if you know you need at least 2 bathrooms but the one you really liked had just one, don’t settle. In addition, don’t let your spouse or another family member try to talk you into a home that doesn’t have everything you’re looking for.

Tip #3: Remember that your wish list is just a wish list.
While core requirements can’t be compromised, be sure that there are things that you can compromise on. For instance, if you know you don’t need a formal dining room, but it’s on your wish list as something that you’d like if possible, remember that it’s not a necessary requirement. Know what you can live without when you are going through the home buying process.

Tip #4: Don’t let the excitement get to you.
The market today is hot – and that means that if you find a home that you love, you’ll have to act quickly. But don’t let the excitement or stress of getting an offer on the table get to you. Getting caught up in the heat of the moment – whether it’s in a bidding war on a home or just trying to get the details wrapped up in a timely fashion, remember to sit back and take a deep breath.

Posted on September 14, 2015 at 7:27 pm
Nancy Johns | Category: Home Buying Tips | Tagged , , , , , , , , ,

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