Ever heard of homebuyers remorse? It happens, but we don’t want it happening to you! So here’s some ways you can be sure to avoid feeling like this big purchase was anything less than perfect.
We’ve all felt buyers remorse to a certain degree with something we’ve purchased at the store. The difference here is that you have the ability to return or even exchange what you purchased at the store. You can’t return your home the same way you can return an appliance you recently picked up.
As with all big purchases, there may be a moment where you second guess yourself. You might decide to go the extra mile and spend a little more than you previously anticipated. Sometimes it may be worth digging a little deeper but before you do go the extra mile be sure to think it through.
Are you just trying to win?
Do you need this home? Is there enough features to prevent you from having to remodel? If the decision to ante up and go all in is really only coming down to being competitive holdback and save that money. There will always be a property that fits your price range and your needs around the corner.
A bidding war could bring the home value up to a point where it surpasses its original listing price. If that happens you may be in a whole new ball game and should consider what type of impact this would have on your existing circumstances. Something to consider is whether the home will appraise at this new price.
How many times have you seen the house?
One of the most common factors influencing Rolla home buyers remorse is how familiar you are with the home. Have you inspected it top to bottom? Have you walked through it multiple times? Make sure you’re extremely familiar and comfortable with the house before you make your purchase. Finding out new things about the house could be a good thing. However, it could also make you question your purchase. I always recommend buyers bring measurement and make sure their favorite pieces of furnture will fit in the given space.
Every walk through you do of your potential home might change the way you see it’s current features. So be sure to do multiple walkthroughs. Being as familiar with the house as you can be will only help you be more confident in your purchase.
Have you analyzed the floor plan?
This might seem like an obvious question but you would be surprised how many home buyers move forward with a purchase without inspecting the floor plan. This relates to the previous point, it’s just another way to become as familiar with your potential home as you can possibly be. If all the bedrooms are located on the second floor and this is your forever home, do you think in 10, 15 or 20 years from now you are going to wish you had the master bedroom on the main floor?
If you feel like a Rolla home might be too good to be true, you might be right. It’s always good to question how good the home seems to be. This makes sure you are alert to a lack of possible disclosures. If you don’t encounter any specific disclosures about the house before you make your offer consider there might be something being kept from you. Be sure to read the sellers disclosure and don’t be afraid to ask for explanations on anything they may have noted. It’s never a bad idea to present these concerns directly to your Rolla home inspector prior to his or her visit to the property.
Have a safety net
One full proof way to keep yourself from experiencing buyers remorse is to always have a contingency based on a home inspection prior to your purchase. Having a specific inspection contingency allows you to jump ship if something unexpected comes up. Most agents are quite familiar with such a contingency so you’re certainly allowed to have it.
Having a safety net and being as thorough as possible is a great way to keep yourself from experiencing buyers remorse. However, at the end of the day just make sure you don’t sign an agreement if you’re not100% convinced. If you have the slightest inclination to double check something or that something is a missing listen to your gut.
Be sure to check out these other blog post or contact me if you are ready to start your Rolla homes search or sell your home in the Rolla and surrounding area.
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