FAQs About Preventing And Handling Buyer's Remorse
Posted on: 27 February 2017
Despite how excited you are to buy a new home, you could possibly experience buyer's remorse soon after signing the contract. Although you might feel as if your reaction is unusual, it is actually common. Before buying a home, here is what you need to know about buyer's remorse.
Is Buyer's Remorse Preventable?
There are several preventative measures you can take while shopping for a new home to possibly avoid buyer's remorse. For instance, you need to realistically assess what is being offered with the home.
If there are amenities or features that are missing, you need to consider whether or not you plan to spend the money in the future to add them or if it just too important to you now. Continuing your search might be the best option if you cannot wait to add it.
When assessing the home, pay attention to the structure of the home and not the fads. For instance, how many rooms the home has is far more important than if there are granite countertops.
Another way to avoid buyer's remorse is to consider the possible hidden costs that come with buying the home. Hidden costs, such as maintenance for a swimming pool or large yard, can make the experience of owning a home less than perfect. However, if you have taken the time to do your research during the consideration stage, the idea of paying for those costs will not lead to remorse.
What If You Do Experience Buyer's Remorse?
Experiencing buyer's remorse is not necessarily a sign that you should pack up all your belongings and list your home on the market. To overcome your buyer's remorse, you have to start by first realizing that buying a home is a major life event that often requires an adjustment period.
If your remorse is being fueled by comparing your home to others, avoid looking at other homes. Your home will never be home if you continue to mentally shop for other homes.
You also need to consider what is making you unhappy about your home and find ways to deal with the issue. For instance, if your home has cosmetic issues, it might be time to make some minor changes. New paint or flooring can make a big difference in how you perceive your home.
Your real estate agent has experiencing in preventing and handling buyer's remorse. Rely on him or her to give you further advice on how to handle it.
Share