Avoid Homebuyer’s Remorse

Ask your REALTOR the right questions.

A home is the most expensive thing most of us ever buy and we all want to be sure we've bought the "right" one.
A home is the most expensive thing most of us ever buy and we all want to be sure we’ve bought the “right” one.

Homebuyer’s Remorse: noun. 1. A condition that sometimes affects homebuyers post-purchase resulting in a feeling of disappointment and second-guessing.

You may be suffering from homebuyer’s remorse if you ask yourself one of the following questions:

  1. What if I acted too quickly and a better house comes on the market next week?
  2. What if I paid too much for the house?
  3. What if something happens to my finances and I can’t make the house payments?

This common condition can be avoided when a homebuyer is fully prepared and realistic of their wants and needs when entering the buying process. Communication between the buyer and REALTOR is key to ensure purchase bliss.

There is an innumerable amount of questions that will run through your head during the purchasing process. What you need to do is ask the right questions before signing on the dotted line. Develop a list of wants and needs with your REALTOR to decide what is realistic. Use these as a guide and ask yourself these questions when you think you’ve found the perfect home.

  1. Does the home include the most important things on the list?
  2. What qualities made the house you chose stand out from the others you looked at?
  3. Did you find many houses that met your needs or was this one a rarity?
  4. If you can back out of the contract, is it realistic to think you will find a house that’s “better?”
  5. What was special about the house just a few days ago and how has it changed–really changed?

Keep a level head and don’t let one outstanding feature speak for the rest of the house. Keep these tips in mind and you’ll end up with a home that you will be happy to live in for years.

The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

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