How to Combat Buyer's Remorse
You just got the call—your offer’s been accepted and you’re now a homeowner! So why do you feel like driving off a cliff ala Thelma and Louise?
It’s called buyer’s remorse, and it’s as universal as the common cold. However, statistics show 74% of first-time buyers and 67% of repeat buyers say they like their new home better than their previous residence. Just something to keep in mind in the middle of that panic feeling.
So when buyer’s remorse hits, review this list to remind yourself why you wanted to buy a house in the first place.
- Greater stability; no landlord to disagree with and no Mr. Heckles banging on the ceiling with a broomstick.
- Usually good investment; keeping the property clean and supporting your local community will help keep this home an asset. Also, you may or may not want to keep the home and use it as a rental property when you are ready to move on. Either way, you have options!
- Equity builds; instead of throwing money at someone else, throw money at yourself!
- First home often leads to better home; once you purchase your first home, it is easier to build equity and use that to purchase an even better home!
- Greater individuality in décor/space arrangement; get your Nate Berkus on if you want - no one is telling you otherwise!
- Sense of security; no one has an extra set of keys and no one is entering your place without your permission. Change your locks or install an alarm system, the choice is entirely up to you!
There's not place like home.