Thursday, 26 August 2021

3 Common Regrets Home Buyers Have

Buyers remorse after purchasing house
What Is The Common Mistake?

Is it Normal for having buyers remorse when buying a house?


Hey all 💜

Have you ever thought that one day, you'll get your own dream house with your particular details like the model of the house, the neighbourhood, the beautiful white picket fence in the front lawn etc? When you have that specific house in mind, do you think about its potential developments?

For instance, If there is a lot of open space around the home, would there be more homes development in the near future in your area? If you are to sell your property immediately., would it be selling quickly and would the value be increasing or decreasing? 

I know it may be unmanageable and challenging to find a piece of exact concrete information about future developments, but keeping some what-ifs in mind would unquestionably help you in discovering your ideal dream house. 

Buyers remorse after purchasing house

It's quite easy to overlook some of these small yet very important things when you're excited about buying a house but then, you'll regret it later. 

If you have never bought a property before just like me, the process somewhat feels a bit intimidating as you might not know accurately what you want and are scared that you'll end up with a property that loses value over time. 

There is no way to gain home buying experience overnight, but it's better to familiarize yourself with the process by educating yourself, learning the mistakes that others have made in the past. 

Let's check out what are the most 3 Common Regrets Home Buyers Have after purchasing their properties. 

Buyers remorse after purchasing house

Rashly Buying A Property

When you found the one that fits your perfect dream house, it's quite natural to be interested in making a quick decision - But it's also important that you don't commit too quickly to avoid any unexpected encounter. 

You shouldn't just love the home but also love the neighbourhood. If you're unfamiliar with the city and its surroundings, feeling unsure about the neighbourhood can raise some red flags for you. Maybe it doesn't fit your wants or needs or sees what other options are available in the neighbourhood you've blindly chosen. 

Buyers remorse after purchasing house

It's truly understandable on getting a great deal on your home purchase but it is best to wait it out a bit and obtain better prospects. This doesn't mean that you have to look for a new house for months but for a significant lifetime investment, you should at least take this decision seriously and evaluate severals of different houses before you are ready to commit. 

And keep in mind your budgets, never underestimate your savings and always have a backup saving ready for any repairs needed. Try using a simple home loan guide for beginners to help you with your home loan budgets calculations. 

Buyers remorse after purchasing house

Not Hiring an Agent

Millennials might try shopping for homes on online listing services as this is the easiest and quickest way to get their dream home except you're not getting the full picture or price.  Do not solely trust a realty website to price your home. This is because you're not able to examine the house for smells, sounds or sights while looking through the photos on the listing. 

Not only that, if you’re interested in a home and reach out to the listing agent, they’re not going to have your best interests at heart. They are legally bound to the seller, thus you may not get the best deal.

There are many ways to improve your knowledge about buying a home, so you can avoid these regrets. You can do more research, to learn what homebuyers before you have done and get more acquainted with your market. Working with a real estate agent in person allows them to know more about your needs and wants, and gives them the opportunity to work for you to find your future home.

Real estate lingo Buyers remorse after purchasing house

Do you know that real estate has its own share of lingo and some of it is hard to understand?  Terms like Earnest Money, Contingency, As Is, Escrow and many more?

Unless you have lots of real estates buying experience, you need to build up some real estate knowledge before you start looking for your dream home. As if making the decision completely on your own is not hard enough. 

That's why it is advisable to hire a legit real estate agent, it's important to have someone to assist you in the buying process as you can get the best advice from someone who truly knows what they’re doing. Like acquiring real estate for sale in Whistler, try to obtain a real estate agent that is familiar with that area for a more reliable understanding. 

Buyers remorse after purchasing house

Undeniably, it is best that you are aware of the current market price and be realistic about today's market price too. You can't expect the house you've seen and walk-through a few years ago to be worth the same price for the current year. It's imaginable but not relevant. 

Treat your housing agent as your best friend throughout the home purchasing process. They’ll provide you with leads on homes that aren’t available anywhere else, and will give you a constant feed of expert advice you can use to make a smarter, more proper decision. 

Buyers remorse after purchasing house

Skipping Home Inspection


Most homeowners who skip the home inspection process end up regretting it because there are inherent problems with every home on the market, and the inspection is your last chance to learn what those flaws are. It only costs a few hundred dollars and doesn’t take long, and it could alert you to problems that may take thousands of dollars to fix.

Not attending a home inspection is certainly one of the biggest mistakes buyers can make when buying their first home. Most homeowners who skipped the home inspection process end up regretting it after loses thousands of dollars to fix it instead of barring costing of a few hundred dollars. 

You may not know what kind of inherent problems comes with every home in the market and the inspection is your last chance to learn what those flaws are. 

Buyers remorse after purchasing house

Make sure you’re involved with the entire process, including hiring your own personal home inspector. Inspectors dig a little deeper into the key elements of the home and check specifics including plumbing, electrical, bugs, and foundation

Furthermore, it is best to hire a home inspector that is well-trained and certified professionals before deciding to purchase the property. A home inspector has the necessary knowledge to evaluate whether or not the property you choose has any potential or issues that would make purchasing the home either a bad or a good decision. 

Buyers remorse after purchasing house

Always respect your home inspector's time and knowledge. However, if you don't understand what a home inspector is referring to or something doesn't look right to you. SPEAK UP! It's better to ask numerous questions now than having issues arise after you've owned the property. 

Once all is said and done, be sure you read the inspection report!

Buyers remorse after purchasing house

 Bottom Line

Buyers remorse is inevitable and it is totally NORMAL for having buyers remorse when buying a house. There’s almost no way for a new homeowner to fully evade buyer’s remorse. Purchasing a house is stressful, and buying in a competitive market will make it even more so. 

It’s essential to keep your emotions in check, as you may end up neglecting some costly issues and overpaying for a home if your feelings cloud your thorough judgment.

The little pitfalls that come with getting a home can be stressful and drive you mad crazy however the good news is that it’s all worth it! For all of its challenges, homeownership can be mentally and financially worthwhile. 

It's okay to have anxiety after buying a house. No matter how stressful it gets, don’t forget that you’re not alone! 

Buyers remorse after purchasing house

 Well, that's all for now! Thanks for reading my blog !! I hope you've enjoyed it!

Have a wonderful day and always be happy!! 

THANKS FOR BEING A PART OF MY READERS  💕🥰

Love and rise up, 

DON'T FORGET TO LIKE, SHARE, COMMENT AND SUBSCRIBE / FOLLOW 👍

 Be nice, Be respectful and Be responsible.

Zazasters a.k.a MamaMonsta👻

Original Photo Credit to its owners / Downloaded from Google Images.
The edited version was done by Yours Truly. Thank You.

#buyersremorse #homepurchasing #homeloan #realestateagent #homeinspector #lifestyleblogger #contentwriter #bloggermalaysia #zazaazman8

No comments:

Post a Comment

Be Nice, Be Respectful and Be Responsible. No Negative Vibes. Any Rude or Vile comments will be reported accordingly. Thank You :)

Spread Love . Stop Hatred. Live Life To The Fullest.