Homebuying and Buyer’s Remorse

Thinking of buying a home in Orange CountyBuying a home is one of the biggest investments you’ll make, and many times new buyers worry that they’ll make a wrong decision and then be sorry when it is too late to change it. What if I paid too much for the house? What if the neighborhood isn’t what I thought it was? What if I lose my job and can’t pay the mortgage? What if I hate my neighbors? What if a better house becomes available next week/month/year?

First, you need to know that questioning your own decisions is normal. Hundreds of doubts and fears can run through your mind as you come up to the closing period during your home-buying experience. We know this expression of fear as “buyer’s remorse.” Some people have buyer’s remorse when they buy shoes, or a television, or that outfit they saw in the window. Other folks have buyer’s remorse when they purchase a car. So, if you experience buyer’s remorse for smaller purchases, expect the feeling magnify when purchasing something larger … like a car … or a house!

If your uncertainty is rooted in the idea that something better may come along next week or next month, you may never find a home to purchase. This is the “grass is always greener” scenario.

Though they mean well, sometimes family and friends can cause unnecessary doubts to creep in when they question the location, the price you’re paying for your home, the schools nearby, the type of loan you’ve chosen or any of a dozen other things.

thinking of buying a homeWhen you’ve made an offer on a home, unless there is a real chance that it will fall through (because of seller demands, loans not approved, low appraisal, problems uncovered by inspections, etc.) you should stop looking at other properties to purchase. Continuing to look is like continuing to date others after announcing your engagement.

If you are having real doubts, discuss it with your agent (me). I will honestly guide you and help you to sort through what is real and what is imagined and address your concerns and options in a logical way. If it turns out the home you have chosen is not really right for you, I can help you with the cancellation process so you can move on to the home that is truly right for you and where you can be happy.

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