Buying a home in 2023? How to Avoid Buyer’s Remorse
Buying a home is daunting, to say the least, especially in today’s market. With high-priced homes that still need renovations to increased interest rates, it’s enough to scare off potential buyers. Don’t let it scare you off!
Whether you’re a first-time homebuyer or looking to purchase a new home in 2023, if that’s what you’re ready to do, then go for it. Sure, it’s scary, but if you’re worried about buyer’s remorse, there are things you can do to help avoid it.
Check out these 8 ways you can avoid buyer’s remorse.
Don’t skip the house inspection.
In a seller’s market, often home inspections are avoided to beat other offers and speed up the home sale process. However, foregoing an inspection can pave the way to a buyer’s regret. In fact, many homeowners who took this step during the pandemic and purchased houses sight unseen are now regretting it.
Always view the house in person.
While virtual tours are convenient, especially if you’re buying a house out of state, viewing the home through your phone screen isn’t going to cut it. When you don’t physically explore the house, you miss out on being able to view the nooks and crannies, miss any odors, and won’t see signs of mildew and dampness. Plus, you’ll want to experience the feel of the home. Often, you’ll know whether a house is a potential home as soon as you walk in.
Don’t look at houses at the top of your budget.
Perusing real estate apps is fun, even if you’re not in the market for a new home. However, once you start looking seriously, you should set filters to avoid seeing something you can’t afford. Looking at houses at the top or over your budget will only accomplish one of two things:
- You’ll either buy a house you’ll grow to resent because it eats all of your paychecks, or
- All the houses in your price range will look small and unattractive in comparison.
Write down your dealbreakers.
When house hunting and seeing house after house, it’s easy to become overwhelmed and impatient, leaving you settling on certain things. While it’s likely you’ll have to let go of a few items on your checklist, letting too many must-haves go can lead to buyer’s remorse house anxiety. To avoid this, make a written list of the dealbreakers and prioritize the items to remember which are most important.
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