Trends, Testimonials, War Stories & Other Real Estate Related Adventures

What is Buyer’s Remorse?

Posted on:

The “holidays” are a magical time for many people – you probably won’t be surprised to know that many people make a resolution to move – to sell their current home and buy a bigger one, to buy their first home, to retire to a smaller home during the “Holiday Season” and the start of the new year. 

When the excitement of shopping for a house turns into the reality of committing to buy – well, that’s when you start second-guessing your decision and begin to have a fear of ‘What-if’..  It’s completely natural to do this, completely normal to have, what we term, a case of “Buyer’s Remorse.”

The buyer who suffers from remorse fears they may have made a bad financial decision. Even after they’ve analyzed the numbers, the 2nd-guessing begins, they now worry they may be paying too much or that they are being taken advantage of. They may worry that down the road something negative is going to happen: The What-If factor.

Buying real estate, especially the home where we plan to live, is not only a financial, business-like process, but an emotional one as well. A huge decision, so many factors to take into account – pricing, neighborhood, schools; so many speculative answers – no one can absolutely predict the future, right? Take schools for instance – you can buy a home in your preferred school district and 18 months later the county can re-district!

Fortunately, buying real estate is a step-by-step process. Many of your questions are answered before you submit an offer (you’ve checked out the area master plan, the schools, crime, commute, comparables.) The rest are answered as you go through the process – step 1, the offer & acceptance; step 2, the inspections, step 3, the appraisal, step 4, the title…. each satisfactorily completed step is designed to alleviate your stress and eliminate your remorse. By the time you reach the settlement table, excitement should be the emotion leading you into your future!

Provided by Maureen Nichols

 

Leave a Reply

Video

Archives

Categories