phone: 705-242-3367 | Email: kraig@painteddoor.ca

Avoiding Home Buyer’s Remorse

By: Kraig Schwartz

Avoiding Home Buyer’s Remorse

Tags: Buying a Home

Avoiding home buyer’s remorse is not often discussed, but it is very real. Buyer's remorse is a feeling of regret or anxiety after making a purchase. It is one of the largest financial purchases you will ever make and sometimes the emotional stress can make us feel bad after making the big purchase.
This is why it is crucial to do everything within your power to ensure you will like the home and that the homes fits your needs.
Here are some tips to avoid home buyer’s remorse:

  1. Make a list of the wants and needs of the home.
Buying a house is not an easy task since it requires a balance between needs and financial limits. Because of this, it is essential to create a list of the “wants” and “needs” that you have. Sitting down and making a list that prioritizes your family’s needs will help you get a home that meets most of your requirements.
The “need” items on your checklist the “must-have” items, like location, parking, schooling, etc. These items fall high on your priority list when shopping for a home.
Common “Needs”
“Wants are things that a home buyer would love to have, but it won’t deter them from purchasing if the home matches their needs. 
Common “Wants”  
 
  1. Create A Realistic Budget
Create a budget that covers all of the major household expenses to put an end to the sense that your finances are out of control.  You'll be able to plan your finances better after this is done.
  1. Have An Experienced Real Estate Agent
You are more likely to trust the advice of an experienced realtor if you choose to work with them. When you're in an unfamiliar area, the skilled guidance of a realtor is valuable.
  1. Observe the neighbourhood
Walk down the street and get a feel for the neighborhood. If you happen to catch any of the neighbors outside, ask them how they like living in the area. They’ll be your best resource on what life is like there.
  1. Stop Searching For New Houses

Once you bought your house, you need to stop looking at other houses, it will bound to make you wonder what you missed out on. Instead, focus on the features you love about your new home.
 
It is important to consider getting a real estate expert to help you find the right home for you and your family.  A real estate expert will examine the market and give you the best result possible.

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