Buyers Remorse
Posted by Blayne Vackar
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For first time home buyers, "buyers remorse" is a very real emotion we all go through. The overwhelming home buying process alone can drive you batty at times. Having a professional on your side that can spot signs of these emotions setting in is important. You have to realize you put a contract on the house, you went through inspections and you felt this home was a perfect fit for you and your family. So why now is it not?
I find sitting and working through what has brought on this feeling of reluctancy to back out of the deal is best done by writing out a T chart. Not only putting the pluses and minuses of the home, but also the consequences of monies lost and future buying inventory and potential increased cost there. All these factors should go into generating an offer on a property, and should defiantly be reevaluated before backing out of a deal.
At the end of the day it is your right to exercise your option period and terminate as a buyer. Ultimately you have to live in the home and be happy to call it home. If deep down you truly cannot find why you put the original offer on the home, then back out. But know there is always a psychological and emotional side to the home buying process. Don't let buyers remorse ruin the opportunity of owning the home of your dreams, and give you a bad case of regrets in the end.
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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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