Buyer’s remorse in real estate is the sense of regret during or after purchasing a house. It might result from the fear of making the wrong home choice, guilt about overspending, or feeling overly influenced by the seller or agent.
For example, is that very big yard worth all the time and expense of mowing and landscaping? Do you really want to pay the air and heat on that 4,400-square-foot home?
Here are some words of caution and some tips for preventing buyer’s remorse:
- Don’t go big, just go right. It’s nice to have lots of space, but think about what rooms you will actually use. If you buy too big a home, you might regret the cost of cooling and heating, or the time it takes for cleaning.
Room size as relates to furniture and living in comfort should also be considered.
- Don’t let the architecture box you in. Carefully consider the home’s layout, especially if you plan to stay for a while. How will you use the space when you own the home? Also, you might want to expand one day, so an open and flexible floor plan might make modifications or additions easier.
- Ask yourself what’s missing that you really want and need. If the home is modern or has many updates, think about what features might be missing. For example, if you decide to go with a large shower instead of a bathtub, you might regret that decision when you feel like relaxing in the Jacuzzi.
- Splashing in the pool can be very costly. In the heat of the Lowcountry, cooling off in your own pool paints a pretty picture in your mind. However, opening, maintaining and closing a pool can get very costly, plus having your own pool might create many safety issues. These items can make a pool a big regret.
- Location, location, location. List your three ideal locations and then factor that in to every home that you consider buying. When we moved here 12-plus years ago, living on a large lagoon lot was a must. We still marvel at the water, woods and wildlife out back.
Larry Stoller is the broker-owner and Realtor with Real Estate Five of the Lowcountry. Larry@RealEstateFive.com or RealEstateFive.com