How to prevent buyer's remorse when buying a home
Tuesday, May 16, 2017 3:31 pm
Buyer's remorse is a feeling of regret when purchasing a home. It usually results from a feeling of choosing the wrong house, spending too much or not enough, or settling for something less than what was really wanted.
Here some suggestions for preventing buyer's remorse:
- Don't go big or small, just go right. It might be nice to have lots of space, but think about what rooms you will use now and down the road a bit. If you buy too big a home, you might regret the cost of cooling and heating, or time spent cleaning. If you economize too much, you might feel cramped. Follow your heart, listen to your head, and buy what's right for you.
- Don't let yourself get boxed in. Think about the home's layout, especially if you plan to stay for a while. How will you use and enjoy the space now and in the future? Wouldn't it be wonderful to have a large tiled and screened-in porch overlooking that lovely lagoon? Will the current floor plan easily accommodate such modifications or additions?
- Ask yourself what's missing as far as special features that you really need and want. For example, hardwood floors throughout the house might be preferable to carpeting - they look nicer, they are easier to maintain, and they are healthier than carpet (e.g., they don't trap allergens like carpeting does). And what a difference an updated kitchen makes.
- Splashing in the pool is nice but costly. In the heat of the Lowcountry, cooling off in your own pool sounds like the way to go. But opening, maintaining and closing a pool is costly, time-consuming and might create numerous safety issues - all of which one might really regret.
- Stay away from some of the fads. A kitchen island that takes up half the kitchen, floor-to-ceiling windows, towering vaulted ceilings, and flashy paint colors might be fashionable but beware. If you buy a trendy house, you might regret it if it's not practical or when styles change.
Larry Stoller is a broker and Realtor with Real Estate Five of the Lowcountry. Larry@RealEstateFive.com or www.RealEstateFive.com