Wednesday, May 18, 2016 / by Ken Couture
With any purchase, you might experience buyer’s remorse. If you purchase a new car, drive it for a week, and start realizing the features you wished it had, like the cup holder should be in a different place, you’ve experienced buyer’s remorse. It is the same for a home purchase. You don’t want to move in after signing a 30-year mortgage, only to find out that you got caught up in the excitement of the purchase and there are many things you dislike about the home. There are ways to prevent this remorse in a home purchase!
Think about everything that you want out of a home. You want your list to include must haves, want to haves, and don’t want. Also, decide on the maximum price you will go, even if you were approved for more. Sit down with your agent and discuss these things. Your agent is there to help you decide in the middle of many different emotions, and help you remember your list, and your maximum price. You don’t want to get caught up in a bidding war and spend more than you had planned.
Once you find the home that you love, you can do a few things to make sure to avoid buyer’s remorse. Go through your list you created before your search and check everything off if the home has it, or mark it if it is on the list as a don’t want. After you have gone through your whole list, go back to the home. Take pictures of the rooms; open all of the closets, attic, garage, and shed if the home has it. Make sure every part of the home is everything you want.
If you haven’t seen the home without other people, make an appointment for a private viewing so you can really take your time and walk through the home. Take time to envision your items in the house. If you have a lot of items you keep in the closet, and the house has small closets, think through a solution prior to buying the home.
When you feel confident in your decision, sit down with your agent and go over your list and price points again. If the home is missing something that was on your must have list, maybe a price deduction in your maximum price point is in order. Your agent is there to help you make the best decision.
If you have any questions, call me. When you are ready to invest, buy, or sell, visit my website or call me direct, Ken Couture, 702-610-6247.