The Collaborative Knowledge Article and Video Project about Buying and Selling a Home. With your writings, edits and uploads we can help people successfully complete what is probably the largest transaction in their lives, and avoid making costly mistakes. Both agents and consumers, we need your help to build this free resource.
Being Objective When Buying A Home
By Kaci Cooper, 23 Jan 19:21
It can be hard to remain objective when investing in such a large purchase, such as a home.
The danger of falling head over heels in love with a home is that you do not always make the best decisions. The best thing you can do is to start with your deal breakers, such as amenities you must have or absolutely do not want.
These are the opposite of needs and wants and can be the most important factors in which home you purchase. Knowing what you need and want will help you resist falling in love at first sight, which will in turn prevent you from buying the wrong home.
Be Aware of Buyer’s Remorse
Buyer’s remorse is a horrible feeling, amplified by such a big purchase as buying a home. And the questions of: What if I paid to much, What if I bought the wrong one? can be haunting. But relax. It is a natural feeling that will quickly evaporate if you have done your homework. If you thought long and hard about your purchase before you made it and knew exactly what you were looking for, then everything will be fine.
Tip: Be wary of buying for appreciation rather than livability because many homeowners find out too late that no amount of money can make up for a poor living situation.
Real Life Example
Robson and Christy set out to buy a home. They have looked at the pros and cons, including renovating their current home. They hoped in narrowing their search substantially, they would find the perfect home easily. They then found a tower built into a hillside with a cute porch and dreams of drinking coffee every morning watching the sun rise began to fill their heads. The problem was that when they looked at their list of must haves, the tower was lacking. So they waited and found a small home with plenty of space and a balcony where they could watch the sun rise. They have been happy ever since.
Remember to keep logic in mind when buying a home and be wary of falling in love too fast. This will help prevent buyer’s regret.
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