6 Methods to Minimize the Risk of Home Buyer's Remorse

Ready to buy but afraid of being struck with home buyer’s remorse? Here are six ways you can avoid the worst feeling that can come with a new-home purchase: regret.

1 | Stick to your original “wants & needs” list
When you’re in the thick of home buying, it can be easy to make compromises on the essential pieces of your wants and needs list. If it’s really important to your quality of life, don’t compromise.

2 | Explore the neighborhood like a local before you buy
It’s a common source of home buyer’s remorse—you bought the perfect house, but you learn that the neighborhood is noisy on weekends, or dangerous at night. The best way to know these things before buying is to make multiple outings in the neighborhood as if you lived there already.

3 | Don’t overspend
Many home buyers regret buying because they maxed out the mortgage amount they were approved for. Financial situations can change rapidly, so make sure you can handle your house payment when jobs, savings accounts, or the stock market inevitably shift.

4 | Accept your decision (and put your computer down!)
Once you’ve signed on the dotted line, stop looking at other houses. It’s much like getting married—once you’ve found “the one” after months or years of looking, you don’t keep searching, right? You commit to your decision, because it was founded on good sense.

5 | Take what family and friends say with a grain of salt
You’ve moved into that new dream house, but your sister-in-law has nothing but criticism for your new abode. Remember, your friends and extended family need only visit. If those who are living in your home day-to-day like it, you’re set.

6 | Hire the right realtor
When you work with an experienced realty team that understands your city, financials, and the technicalities of buying a house, you will get expert advice and guidance that will help you avoid bad decisions.

At Cheng Real Estate Group, we want you to love your new home! If you’ve been thinking about buying, but want someone to guide you through the process with confidence and understanding, give us a call today 608.957.2683. We can’t wait to help you find your real estate “happily ever after.”