Here is the first installation of “Buyer’s Remorse” blog series. Each week we will go into depth on our list of expert tips on how to navigate buyers remorse in the home buying process. Every home buyer will experience “buyer’s remorse” several times on their way to realizing that dream. This blog will help Triangle area home buyers understand what’s happening to them and how to move through Buyer’s Remorse.
- Before or Soon After you write an offer – You have looked at houses and there is one that really stands out amongst all the others. You have been pre-qualified for a mortgage and know you can afford the future payment. The home has everything on your must-have list and more. It’s time to make a decision. Are you going to make an offer or will your fear paralyze you? Believe it or not, Buyer’s Remorse can begin prematurely from the stress of thinking about making a decision. An acronym for fear is False Evidence Appearing Real and you know this is true if you feel panic and you haven’t even bought anything yet! Buyer’s Remorse is fear of making a mistake. Sometimes that fear is so strong you will either not make an offer at all or you will make an offer and when the expected counter offer is shared you run away. The emotion of fear is so powerful that it can keep you from the joy and happiness of living the American Dream of homeownership. Fear influences behavior more than any other human emotion. Are you going to fight or flight? Do you move forward with an offer or do you stall with words such as; “let us sleep on it, or give us a few days”. Are question running though you mind like; “are you acting too quickly or is there something better out there if you wait longer”? People who standstill in this state usually lose that house to another buyer and have to start their search all over. The sad thing about not fighting through the fear is the new search my take a long time, interest rates could go up and you will compare everything to the house you lost.
TIP: Remind yourself how many houses you looked at on the Internet and in person to find the one you can see yourself living in. Check your wish list again to make sure it’s the right house; understand that most people move every 3 to 5 years. This is not forever. Most importantly remember that you will continue to feel the same way with each and every house unless you push through and do it afraid.
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 your offer is accepted on your Raleigh home!