Buyer’s remorse is a common feeling that happens when you purchase something and then start to over think it. Maybe it was too expensive, maybe it was a purchase you really didn’t need, or maybe you just don’t like the item you purchased at all.
You’d be surprised to learn that 51% of home buyers experience the same feelings when they buy a new home. They expect to feel feelings of satisfaction and excitement, a sense of financial accomplishment and pride. Yet, they end up feeling uneasy and uncomfortable and begin to dislike their purchase.
Maybe it’s the neighborhood, it turns out to not be what they expected. Maybe it’s the neighbors who are loud or offensive. Perhaps it’s the location and events take place around you on a regular basis that you don’t like. In the end, maybe you want something bigger, or smaller. There are so many reasons!
Remind yourself why you picked your home in the first place and despite some discoveries over time, your home will still most likely meet your needs and what you wanted. Perhaps you’re still looking at listings and lamenting over ‘we should have’…stop looking at listings, period. Focus on the home you’ve chosen and plan to adjust to the things that aren’t making you thrilled at this moment. There’s a very big chance, this will pass.
Another reason people develop home buyer remorse is on a financial level. Perhaps you felt rushed in choosing a mortgage, you didn’t compare mortgage offers well enough, you felt pressured in choosing a product or you didn’t like your mortgage provider but stayed with them anyway. Luckily, a mortgage is not a permanent thing and you can wait for the terms to expire before you settle into a new mortgage type, or you can also refinance your current mortgage to a setting that suits you best.
Finances are a big culprit for making you feel bad and uneasy. Take a breath and assess your financial situation. Look at your daily and monthly budgets and assess where you can make some changes to lessen your uneasy feeling. More often than not, when you do a self-assessment of your finances, you’ll be surprised how easily you can make some changes.
Still feeling uneasy and perhaps remorseful about your home? Let’s talk over a coffee and walk you through your purchase!