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Buyer’s Remorse: It’s Real

09-15-2020 | Buying | 4 Min Read

At some point during the home buying process, almost every single buyer has a moment or two of doubt or panic. Here is what you should be ready for and what you should know. 

 

Bidding War Remorse 

Nearly everyone who has participated in a bidding war when vying for a home will tell you there is often a moment of regret as soon as it is over. And this is true regardless if you won or lost! If you won the bidding war – it is impossible to not wonder if you bid too high and left money on the table. If you lost – you may regret not going higher in your bid. Regardless, you’ll probably have some level of frustration with the whole process and may even question the fairness of it all. 

 

Perhaps you are lucky enough to avoid a multiple offer situation, but the seller you are buying from is not as cooperative as you might expect. Both of these situations can be uncomfortable for buyers, but we can help you navigate through this part of the process. Being expertly informed as to our local Utah market will help you prepare for a pressure-filled blind bidding war, and help you smoothly work with a difficult seller. 

 

The Day-After Remorse 

Sometimes that first visit to the home once you have keys can feel a little anticlimactic. You’ve dreamed and planned for this moment, and then when you open the door to your new home, a light bulb has burnt out, or the air smells stale from being vacant and closed up for a few days. If it is the first time seeing the home without furnishings, you might notice a scratch on the floor you didn’t see before. Perhaps the yard is a few weeks overgrown. The staged “ta-da” moment we see on TV when a buyer first walks into their new home is hard to replicate in real life. 

 

Our advice here is to just breathe through it. Move in, unpack, get your photos on the walls and settle in. Very soon the home will feel just as you imagined it would, and you’ll feel great about all that hard work getting you there. 

 

For some folks, the uncertainty comes right before closing because home purchases are a big deal. It is not a cliche to say that buying a home is a significant financial decision. Moments of concerns about whether or not you’ll be able to make the mortgage payment (especially if it is your first home), uneasiness surrounding the down payment amount, or suddenly worrying about losing your job are all very common and quite normal. Whenever you feel these doubts creep in, go over your loan numbers with your lender again, revisit your budget and talk with us about any other concerns creeping in. Chances are everything still checks out. 

 

New Neighborhood Remorse 

Choosing the right neighborhood is as significant to the home buying process as the actual home itself. With all the work that buyers spend in choosing the neighborhood they want to live in, it can seem surprising that any feelings of doubt would emerge. But the new commute, the new grocery store, the new traffic patterns and new neighbors all take a little time to adjust to. It doesn’t always happen overnight for everyone. Allow some time before you really feel settled into your new neighborhood. You’ll get there. 

 

Home Renovation Remorse 

Remodeling and designing your new home is really an exciting thing to do. But it is also a big project, and sometimes when you’re knee deep in boxes and you have a kitchen remodel looming in the background, you might feel some regret for a moment or two. Moving in and remodeling at the same time can be a lot for anyone, so take breaks, allow some time for all the changes to settle in, and then get back to work. Chances are pretty good that you’ll love that new kitchen when it is all over.  

 

Most Important: Be Kind to Yourself 

The entire process — from the day you decided to start looking to houses, to getting one under contract, to closing, and then moving into your new home — takes a lot of work. Be kind to yourself when it is all over. Move in, decorate and meet your neighbors. It will feel like home soon. 

 

You’ll also want to make sure you have strong agents to help you navigate through the whole process. We can guide you through all the ups and downs, and be your sounding board for any concerns that arise along the way. Our market knowledge will help you navigate multiple offer situations, tricky sellers, and help you perfect the timing of your closing so that it works best for you. Helping you find that perfect home is what we do best! Reach out to us when you’re ready to make your move.

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