Purchasing a home can rank among life’s most stressful events. Signing a closing contract obliging yourself to the payment of hundreds of thousands of dollars over a 25-year period, can leave anyone wanting to run for the hills. Anxiety is common with any large investment, especially the purchase of a new home. Buyer’s remorse is an emotional response in the form of regret, fear, depression or anxiety, very common to new homeowners. The key is to feel confident as you look toward your future.
Wants & Needs
Reading through your original list of wants and needs, will remind you what made this home stand out. Ensuring your top priorities have been met will reassure your decision. This house was very special a few days ago, so try and understand what has changed. Is this truly a bad purchase or is there something else making you hesitate?
Easier said than done, you need to trust your instincts. You are not able to predict the future, but you can prepare yourself. Get a home inspection, review your finances and reassess your perspective. Being knowledgeable will curb your anxiety. Remember the hard work that has brought you to this moment and be proud of your accomplishments. If you are satisfied with your research, it is time to stop looking at other houses and be confident in your purchase.
Beware Helpful Advice
Sometimes remorse can creep in as you talk with different people. While most mean well, check your uncertainties against facts and figures. Parents may feel you have overpaid, neighbours may have had bad experiences or friends might have higher expectations, but these are not reliable figures. Seasoned homeowners can offer helpful advice, but it may be some time since they purchased a home. You may have a better understanding of the housing market and area retail values. Being informed can help convince loved ones (and yourself) of your purchase.
Your Real Estate Professional
You’re not in this alone. Choose a Realtor who will guide you through all steps of your purchase, including the closing process. A veteran of the housing market will advise you between your worries and legitimate property concerns. Always contact your agent with questions before they snowball into doubt and panic. Take advantage of their expertise, it is their job to make this process as smooth as possible.