Buyer's Remorse?

Buyer's Remorse

In the excitement and business of life, you and your family decided that it’s time to move. The American dream passionately filled your heart as you sought out the perfect home that would complete your family’s happiness. There was the cozy cottage in the mountains, the open house by the beach, the new condo with little maintenance, the “too small” house, the “too large” house, and then…the “just right” home! After the long process, you finally settled.

When the emotions and chaos of trying to find the perfect house died down, your mind began to race once again. Did I make the right choice? Should we have moved into a different school district for the kids? Can I really afford this? What if I loose my job? This is all very normal.
The endless questions that race through your mind can be exhausting. Perhaps you are just being paranoid about the purchase made – the largest purchase you will likely ever make. So how do you deal with this remorse to determine if you really have something to fret about?

1. Check out the Neighbors
Once you buy a house, you will likely have to live there for at least a year or two before you can afford to move again. So don’t be shy about interacting with the neighbors before you get a contract. Introduce yourself and ask them questions about the neighborhood. What do they like about it? Is there anything they wish was different? Have there ever been issues in the neighborhood? How does everyone get along? Are there children around the ages of your children? See what the neighborhood is like during the day, at night, and on weekends. Are you near a school ? Then check out the local area. Visit nearby parks, shops, movie theaters, local schools, restaurants, and libraries. Try to visit each of those places during their busy times so that you can get a realistic picture of the community. How is the commute to your office?

2. Recheck the Floor Plan
At this point in the game, you’ve found a house and have fallen in love with the landscaping, the quaint porch, and the view from the kitchen. However, you need to keep a level head. Examine the floor plans once again. Remember that you will be spending the majority of your time inside the house. Are there enough bathrooms to accommodateyour family? Would you prefer a different layout in the kitchen? You need to make sure that the room sizes will meet your specific needs.

3. Get an Inspection
DO NOT SKIP THE INSPECTION
Picking an inspector can be tricky. Make sure that the inspector will cover the basis: appliances, roof, heating and air conditioning, general drainage, windows and doors, dampness, and structure. If you suspect a problem in the following areas, you may want to hire a specialist: electrical systems, mold, pests, septic tanks, swimming pools, termites and carpenter ants, and trees.

Dealing with Buyer’s Remorse

Most people who buy homes experience uncertainty after buying a home. Here are some basic steps to calm your nerves.

Find and Compare Your Wants and Needs List. During the process of looking and finally purchasing a home, you probably developed a wants and needs list. Get that list out again and ask yourself a few questions.

Be honest with yourself. Does this home meet your most important needs? What qualities made this home stand out from the others? Did you find many houses that met your needs or was this the only one? Could you realistically find a more suitable home if you could back out? What has changed since you decided on the house?

Buyer’s remorse often kicks in after we begin talking with others about the purchase of our new house. Perhaps you just spoke with a family member or friend who questioned your choice or the amount you paid for it. Don’t fret yet. Are they familiar with today’s market? Do they know your area well? Remember that parents often feel that nothing is good enough for their children.
Are you still looking at houses? If you’re settled on one, then stop looking. Remember that the grass is always greener on the other side. Do not put yourself through those mental battles. Remember that a certain amount of buyer’s remorse is normal. Unless you have discovered a major issue with the home you just bought, you will question your purchase. If you feel that you have a major issue, talk to your agent.