5 Best Ways to Avoid Buyer's Remorse
We know things move fast in today's market. Because of that, are you concerned about buyer's remorse? Here are our 5 best tips to help you avoid any kind of remorse when buying a home.
Set your budget and stick to it.
Sit down and really think about what price point you can afford. Once you come up with that number, build in some wiggle room so you can look at homes a little above and below what you're thinking. You'll also then have room to offer over list.
We also recommend you build room in your budget to make sure you have cash on hand to cover any gap between the appraisal of the home and what you're under contract for.
Once your budget is set, stick to it! If the bidding war goes above your threshold, it's time to move on to a different house, no matter how much you love that one. No one wants to live in a house they can't afford.
Prioritize your non-negotiables.
Everyone has a "wish list" when they're looking at homes, but figure out what your non-negotiables really are and prioritize them. Is it important that you have a yard? How long do you want your commute to be? Do you want an open floor plan? Which floor do you want the master bedroom on?
Write all those non-negotiables down and refer back to them often to make sure you're looking at houses that meet your needs. Having this list around will also come in handy once you've found the home that meets all those requirements but you still find yourself having a little bit of remorse. Just remind yourself that this home does have it all!
Stop looking at houses once your offer is accepted!
It's the same concept as dating - when you've found "the one," STOP LOOKING! If you keep looking at homes after your offer has been accepted, it can be easy to feel buyer's remorse over all the things you "could" be missing out on.
Instead, focus on the home you found and loved and research furniture, home decor, and home maintenance tips. Get excited for what the future holds in this home!
Don't be afraid to ask questions.
Don't ever feel bad for doing what you need to do to secure your peace of mind. If you feel like a more detailed inspection is necessary, ask for it. If you need to walk the home one more time, ask for it. Trust us - a seller would rather let you see the house one more time than have you freak out and put their home back on the market.
Trust your gut. (And your agent.)
We've seen it time and time again. As an agent, we can tell when a buyer walks in a home and they feel that it's "the one." Don't second-guess that feeling! Your gut is right 99% of the time.
Also trust your gut if it's telling you a home is not the one. If it doesn't feel quite right or you're having a hard time coming to a decision, trust that feeling. Then consult with your agent. They can help guide you to the right decision using their expertise and third-party opinion.