Video: How to Handle Home Buyer’s Remorse
Tuesday Oct 04th, 2022
How to Handle Home Buyer’s Remorse
Some people experience a phenomenon known as buyer’s remorse after buying a home… a sense of regret associated with their purchase.
A few days after closing, they wonder if they made the right decision, if they acted too quickly, or if they paid too much. Here are some things to do to avoid buyer’s remorse:
First off, unless there is a real reason for your concern, simply acknowledge that you are more than likely feeling stress that is commonly associated with making major life decisions.
To avoid this feeling, get to know your new neighborhood before you buy. Visit during the day and at night – and talk to the neighbors. Before making any offers, prepare a budget and stick to it. Buy a home with enough space to accommodate your family, but at a price within your means. When your offer is accepted, make sure you have a home inspection to avoid any unwanted surprises. REMOVE:You may also want to purchase a home warranty if the seller doesn’t provide one. This offers protection on the major components of the home.
Understanding how and why buyer’s remorse occurs can help you work through it if it happens to you.