Homeownership is the American Dream! Yet every home buyer will experience “buyer’s remorse” several times on their way to realizing that dream. We are starting a blog series that will help Triangle area home buyers understand what’s happening to them and how to move through Buyer’s Remorse.
What is Buyer’s Remorse?
Buyer’s remorse is fear that you have gotten yourself into, something you can’t get out of and a deep feeling of regret. When in this emotional state people will either flight or fight. Buyer’s Remorse is a natural human response to all major decisions. There is no other purchase where Buyer’s Remorse is stronger and longer than in a home purchase. For example when you buy a car you sign the paperwork, write a check, get the keys and drive away in the same day. With a house, you sign a contract and after 40 critical time sensitive steps are taken over a period of 30 days to 60 days, you write a check and get the keys. Home ownership is a decision that represents a major shift in a person’s life as well as their families. It’s one of the biggest financial decisions anyone will make and it is normal for homebuyers to have emotional confusion during the process.
We have found that home buyers who experience the least amount of Buyer’s Remorse and have the most joy and excitement on their journey to homeownership understand the need to fight negative emotions. They control their “what if thinking” and they turn their focus forward on the benefits of homeownership, enjoyment with friends and family and envision themselves in the future decorating and loving their home.
When you feel overwhelmed with remorse, talk about it
Remember the reason why you wanted a home
Stop tormenting yourself by looking at other houses in the Raleigh area
Stay away from negative people
BONUS TIP: Your friends and family mean well but, it’s not unusual for them to question your choice and what you paid for it. Most of these well-meaning people have not been in the market for years and have not gone through the comparison exercise you just completed. And, let’s face it parents never think anything is good enough for their children. Don’t be shocked if the people closest to you are not as excited about your new home as you are. That’s normal too.
Six Most Common Times to Expect Buyer’s Remorse
- After You Write An Offer
- After the Offer is Accepted
- After the Home Inspection
- The Final Walk Through
- After You Write the Final Check for Closing Day
- After You Move in to Your New Triangle Home
Come back next week to learn more on how to overcome buyer’s remorse after you write an offer on your Raleigh home!