Did you know as high as 52% of home buyers have some sort of regret?
Well Stick around because I’m going to share 5 Tips To Prevent Home Buyer’s Remorse so you can get excited about your new journey and happily pop that bubbly on closing day!
Tip # 5 - Location
I have said it before and I will continue to say it over and over again…
You can change the house but you can not change the location or neighbourhood. If you are needing specific amenities, or niche neighbourhood preferences, you need to stick to shopping in those locations.
You will never be happy in a home that resides in a location that doesn’t suit your lifestyle.
Tip #4 - Wants & Needs List
When new buyers come to me I have a specific list I like filled out so I can bring my buyers back to this list if needed. Before we even book a showing there is no point in wasting time viewing a home if it doesn’t fulfill one or multiple boxes on a needs list like a specific amount of bedrooms or bathrooms.
Wants can be discussed per each property to understand if that want could be installed or built into that property. Wants are also something that can be compromised through the buying process as you view many houses and distinguish what you like and do not like.
We can’t compromise on your needs list, or you will regret your purchase.
Tip #3 - Working With A Buyer's Agent
Hello! This service is Free and you’re doing yourself a disservice by going straight to the listing agent.
A buying agent will give you full representation from start to finish and will be able to negotiate better on your behalf.
The listing agent’s first duty is to the seller and as they can help you complete the transaction. They will have to remain impartial to both sides if representing both the buyer and seller in the same transaction.
“But Megan, my friend told me I had an advantage by going to the listing agent to get the house.” Sure some agents have special agreements in place with the seller to reduce commission to bring their own buyer but that can’t happen in competing offers and you as the buyer still wont get the same negotiating power from having your own representation.
Your buyer’s agent can help you build a strong offer that protects you and can still help you land the house. Your buyer’s agent will also be there from the very beginning to the closing date so you don’t have to play matchmaker yourself and book all appointments alone.
Let them do the work!
Tip #2 - Understanding The Buying Process
There are a lot of moving parts to buying a house that include you, your agent, financial lenders, home inspectors, contractors, and so on.
When you find a buying agent you want to work with you can start to discuss timelines, due dates and what to expect and even get recommendations to great third party professionals.
This can significantly reduce your risks of home buyers’ remorse because you won’t look back wondering what you could have done better or how you let something slip through the cracks, did you pay too much and so forth.
Get familiar with your agent so you feel comfortable asking any and all questions throughout the process. Failing to ask questions when buying a home is a great way to experience buyers remorse.
If your agent can’t answer the question, they most likely can point you in the direction of someone who can.
You can find my FREE Buyer’s Handbook on THIS PAGE that will outline the buying process and what you should expect through your journey.
Tip #5 - Budget
The down and dirty truth is that money and finances put a ton of pressure and stress and anxiety on most people.
Analyzing your budget when buying a home is extremely important and should not be overlooked, otherwise the possibility of having home buyers remorse can increase.
For a more in depth conversation on this topic I suggest you check out my next blog post on 2 BIG Buyer Mistakes To Avoid.
Now that you know why you want to move, if you can afford it, how it will change your lifestyle, if this is your final move and what your game plan is, you may also be interested in learning about whether you should build an addition or move on?
If you’re looking to upsize and are ready to get a free home evaluation from me to help you start the process of giving your family the space they need, reach out to me now through my contact page.
I’m looking forward to helping you with this move!