Avoid Buyer’s Remorse With Your Next Home
Whether you’re entering the market for the first time, or you’re making the move into your next home, buying a home is a big financial and emotional investment. As such, getting it “wrong” can feel particularly devastating. However, it’s easier to do than you might think. Excitement can get you making mistakes, so here, we’re going to look at how to stop that from happening. With the tips below, you can make sure that you avoid some serious buyer’s remorse.
Have A List Of Priorities
Take the time to think about what factors you consider when looking for a home. Taking the time to actually list them out on a piece of paper, and then start separating them into your needs vs. your wants. Your needs are the things that your home absolutely must have for your minimum standard quality-of-life, and the things that you want are those that would be nice to have, but aren’t vital. Otherwise, it’s easy to get suckered into a home that ticks all of your wants, but not all of your needs.
Avoid Falling In Love Too Quickly
When you attend a viewing for a home that really captures your imagination, it’s very easy to get emotionally attached to it. However, letting this happen can result in your judgement getting seriously clouded. Not only are you likely to overlook the potential problems in the home, but you may be negotiating from a position of weakness if the seller is able ot see how enthusiastic you are about it. Always take some time to think before you make clear any intention to make an offer.
Take The Time To Look At Other Properties
The best way to be able to look at homes with some degree of objectivity and to clear your head is to have points of comparison. Explore your options and look at multiple properties to find your perfect place, rather than simply buying the first place that catches your eye. Keeping a close eye on the listings also helps you get a much better idea of the conditions of the market, including how quickly homes are getting bought and how their prices are moving, so you avoid paying more than you should.
Negotiate A Good Deal For Yourself
Avoiding paying more than you should is the operative point here, and this means not letting yourself get suckered into overpaying or accepting terms that aren’t in your favour. To avoid this, approach negotiations with confidence and knowledge. Research the market to understand fair pricing, and don’t be afraid to make a reasonable counteroffer. Working with a real estate agent can help you negotiate much more effectively, which may not always involve getting a lower price but can include things like putting repair requests in the contract so you don’t have a ton of work to do when you move in.
A home is not a purchase that is easily reversed. As such, you need to make sure that you have all of your ducks in a row, and are making decisions rationally, and reasonably, rather than letting your heart do the thinking.
