Most people spend their entire lives saving in order to afford their first home. Home buying is a major life event, and with it comes a lot of pressure to make the right decision. So how does one avoid the dreaded “buyer’s remorse”? We have a few ideas.
Find the Right Agent
The right agent will prioritize your needs, listen to your concerns, and help you weigh the pros and cons of every home you consider. Stay away from agents that are hard to get in touch with or seem disorganized. You should also make sure the agent is an expert in the areas you’re searching. To ensure you’re working with an expert, we recommend contacting a local Realty.com buyer’s agent.
Differentiate “Wants” from “Needs”
You told your agent you needed an inground pool with a waterfall and slide. Do you really? Make a list of all the things you’d like in your home, and then mark them “W” or “N” to differentiate needs from wants. The more limited your budget, the more compromises you’ll have to make. By figuring out what your priorities are, you can prevent buying a home that’s a poor fit for your lifestyle.
Do Your Homework
Unlike shopping on Amazon, you can’t return your home for a refund if you’re not happy with it. That means it’s doubly important to do your research and due diligence on every aspect of the process. Whether it’s understanding how to get a mortgage loan (contact a mortgage professional here), deciding which areas of town you prefer, or even figuring out which home style fits your needs, it’s important you take every aspect of home buying into consideration. If you’re a first time home buyer and unsure of how the process works, take a look at our buying guide.
Location, Location, Location
Where you live is just as important as the home itself. Before you settle on a home, be sure to look at all of the variables that are affected by its location. For example, a home may be on the lower end of your budget but may not have the best school system (search school zone ratings here). Alternatively, the home on a seemingly quiet street could experience heavy traffic during rush hour. You should also see how heavily homes are taxed; a home in the city could face higher taxes than one in the suburbs–or vice versa.
Don’t Go In Over Your Head
Once you buy your home, you actually have to live in it (surprise!). While the aforementioned inground pool with a waterfall sounds like a dream come true, it’s important to take into account the upkeep necessary to maintain it. Big yards with lots of trees may look beautiful, but they also require raking and lawn mowing. The bigger the home, the more that will need to be cleaned. Understanding the maintenance your home will need before you commit will prevent you from being disappointed later.
In the End…
Having some doubts about your new home is a natural part of the process. The future is unknown and that can sometimes feel intimidating. While no house is perfect, following these suggestions can save you years of future headaches. Happy home buying!