Purchasing a property is often the largest single investment most make in their lifetime. This is the reason why many home-buyers, first time or otherwise have doubts. Have they made the right decision or are they Fearing Buyer?s Remorse? Have they paid more than the property is worth or is their new home in a bad neighbourhood? Other major concerns include the ability to meet a large monthly mortgage repayment if they unexpectedly become unemployed. Some worry a superior home will go on sale shortly after buying the property, whereas others worry if they will get along with their neighbors.
It is Perfectly Normal to Have Doubts
Those Fearing Buyer?s Remorse? Should meet and chat with an expert real estate agent. In fact, few realize, the majority of home-buyers question their own judgement. Buyer’s remorse is a common emotion often experienced during the closing stages of home buying. It is worth mentioning that many experience buyer’s remorse after investing in new shoes and clothes or the latest television on the market. Others are plagued with self-doubt after buying a new car. Therefore, it’s not hard to understand why people feel overwhelmed and full of doubt after buying a house.
The Grass is not always Greener on the Other Side
You may never find or buy your ideal home if you wait for a bigger or a better property. In the first instance, those who doubt their own judgement should make a list of priorities. Consult with an experienced real estate agent and ask them to locate a property that fills the criteria. If you suddenly get cold feet you and the agent can refer to the list to ascertain what attracted you to the dwelling in the first place. A worry shared is a worry halved and those who talk through their problems are less likely to suffer from buyer’s remorse.
Fearing Buyer?s Remorse? Find Ways to Alleviate the Problem
Some home-buyers expect to feel overwhelmed and doubtful and buyers who often experience remorse fall into one of these categories
They Use an Inexperienced Real Estate Agent
Expert real estate agents guide and advise prospective buyers from beginning to end. They explain the process, fill in the forms, ensure deadlines are met and tell you what to expect as the house sale nears the end. It is the agent’s job to deal with these concerns and you should be able to contact them at any time.
They Listen to Friends and Family
Family and friends mean well, but those closest to you can fill your mind with doubt. Here are some common questions they may ask
. Is the property in a good location?
. Is the asking price fair?
. Have you chosen the best type of mortgage?
. Does the area have access to great schools?
Professional real estate agents can answer all of those questions honestly. Friends and family may give different answers and fill your mind with doubt. Well-established agents will answer these queries and enable you to make an informed decision.
Fearing Buyer?s Remorse? – Keep your Options Open
As and when you make an offer on a property, stop hunting and viewing other properties, after all, you wouldn’t go on a blind date after getting engaged.
However, if there is a good chance the sale may fall through due to problems with the inspection report, seller demands, low appraisal or an unapproved loan then carry on house hunting.
Don’t Fear Buyers Remorse, Deal with It
A capable real estate agent will answer your questions and allay your concerns. If together, we decide the home is not the right one, we will help cancel the agreement and help you to locate the ideal family home.