How To Prevent Buyers Remorse

Erika Bentley
Published on June 4, 2016

How To Prevent Buyers Remorse

Pin

Ever heard of home-buyers 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 buyer’s remorse to a certain degree with something we’ve purchased at the store. The difference here being 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 though.

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 hold back and save that money. There is always a property that fits your price range and your needs around the corner, don’t get into a buyer’s trap and end up with home-buyers remorse.

A bidding war could bring the home value up to a point where it passes 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.

How many times have you seen the house? 

One of the most common factors influencing 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.

Every walk through you do of your potential home might change the way you see its current features. So be sure to do multiple walk-through’s, during staging and post staging, when its empty. 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?

hero-hub-floorplan

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, its just another way to become as familiar with your potential home as you can possibly be.  The more pre-planning you do, the less chance of problems that lead to home-buyers remorse.

Have you been through the home alone? 

Having someone with you to essentially “pitch” the home to you every time you walk through it can skew your perception of the house. Make sure you walk through the house alone at least once so you can be alone with your thoughts. Develop your own opinion without having someone tell you how great everything is at every turn you make.

Due diligence

If you feel like a 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 as to avoid home buyers remorse all together. 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.

Double check on previous inspections the house has undergone. Always inquire about any past inspections as well because if they seller isn’t directly asked about it they may not say a thing about it. Coming across these disclosures after you’ve already purchased the house is a sure fire way to suffer from buyer’s remorse.

Have a safety net

One full proof way to keep yourself from experiencing home-buyers remorse is to have a contingency based around 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 home-buyers remorse. However, at the end of the day just make sure you don’t sign an agreement if you’re 100% convinced. If you have the slightest inclination to double check something or that something is amiss listen to your gut.

If you would like to speak to a Las Vegas specialist to avoid home-buyers remorse, call 702-375-4082 or visit our website at http://bentleyrealtygroup.com for Las Vegas Real Estate help.

  

Powered by WPeMatico

Pin
Want to know the value of your home?
Our professional staff will figure it out for you for FREE.
No thanks I don't need this
How To Prevent Buyers Remorse
Please use a valid email.
Please fill in all fields.
view now