What Is Home Buyers Regret? And How To Avoid It.

We’ve all felt it; buyers regret.  Maybe you got that minty-fresh new electronic that you’ve been waiting for, only to find out it falls far short of your expectations. That new car that immediately had to go in for service and was never quite the same, that bar with a built-in tap that you told yourself you would use to host all of your parties only to realize that you don’t actually host any parties. Trust us; we all know what it’s like.  But there’s another, much more serious kind of buyers regret; Home Buyers Regret.  The feeling is much the same, but with much wider-ranging implications for your future plans.

What are the causes of Home Buyers Regret, you ask?  While your (hopefully avoided) experience may vary, there are a few general factors that can tingle that sense of dread after you’ve purchased a home.

Basic Avoidance Of Home Buyers Regret

First, you need to know what a home will require in order for it to be up to your expectations of build quality.  Houses may need a few things that will need to be fixed either prior to purchasing a home or immediately after.  It’s important to be aware of these issues as it may cause a headache further down the road after you’ve purchased the house.  Often times, if the seller is motivated enough to sell the house, they might be willing to work with you and include fixes and light renovations as a stipulation in the contract for the sale of the house.  Making sure you have a surveyor to inspect the house for any major issues can help save you a headache in the long run.

Know Your Options

You also need to be aware of the market surrounding the house.  If you look around at the areas close to the home you’re considering you may find other locations that may be a better price, closer to an important location, or simply newer than the one that you’re considering.  Making sure that you’re aware of the area and not focused on a singular house can help make sure that you’re making the best choice possible when putting in an offer, and not necessarily choosing the first one on the list.

Ask a Professional

Also; make sure you don’t bid either too high or too low on the house.  Bidding too high will likely get you the house quicker, but you may end up paying over market value for the home and will likely have to recoup that cost before you can be in a good position to start generating equity into the home.  Offer too little and the buyer may outright refuse and will greatly decrease your chances of landing the home that you want to purchase.  Feel free to contact property Deck if you need some advice in this area.

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Research the Home’s History

Be aware of the listing itself; did it post more than once?  How long has it been on sale for?  Has it been under contract and fallen through? If so; what were the reasons for that?  Houses can be listed multiple times for a number of reasons, and it may or may not be an indication of a bad deal, but know the questions to ask when you engage the seller or the seller’s agent.  It’s also important at the start of the home evaluation that you get it appraised by an independent surveyor. What they find may contradict the listing price and will give you a good starting point for negotiation should you decide to move forward and engage in the offer process. This is called leverage.

Don’t Compromise

This is a big one; make sure that you are aware of any compromises that you may have made in your selection.  If the location isn’t ideal but the price reflects that in a positive way; you need to know whether or not that will be a deal-breaker for you.  If you find yourself bending too much for the sake of getting the house that you want, be prepared to walk away.  If the price doesn’t match, the location is wrong or it needs too much work before you feel comfortable moving in, these could all be red flags that will likely cause you to regret the purchase after its already done.

How Property Deck can help you avoid Home Buyers Regret

It’s important to realise that you may need to hire an estate agent to help you find the right home. Portals such as Rightmove or Zoopla may not be cutting it for you.  While an agent may seem like someone you go to when you want to see a wide range of houses and not much else, it’s important to think of them more as your doctor.  Talk to them; communicate your needs and wants in a house and give them something to go by.  Not telling them something or being too shy to admit a want, need or issue you’re having will only serve to hurt you and will likely have the same types of results as withholding information from your doctor.

Above all; remember that your agent should be there to aid in your home buying process; not just to show you listings.  Helping you avoid the wrong time to buy, the wrong location or the wrong house for your budget can all go a long, long way in making sure that you’re happy with the end result.  Even beyond that; agents aren’t necessarily all the same, and you will need to find one that gels with your interest as a home buyer before choosing to go the length of the field with them.

At Property Deck; we understand the needs that homebuyers have, and work tirelessly to democratise the process of buying a home to help you avoid regrete and save you money.  We work with you to choose the best estate agent for you and help you save thousands on buying or selling a home.  Beyond just savings; we also make sure that you are best positioned to work with an agent who understands your needs and can communicate with you in a way that makes you feel at “home”.  With Property Deck; you leverage the best of the best to make sure you can avoid making a mistake in what may be one of the largest purchasing decisions of your life.

Don’t buy a money pit and suffer from home buyers regret later on; make sure that your next home is purchased with Property Deckt in your corner!

Did You Know?

Less than half of all home sellers achieve a sale with the first agent they choose. We solve that problem!

We understand that every person’s circumstances and selling journey is different. That’s why our platform allows you to choose the agent that is the best fit to sell your home. Whether your driven by saving money or getting a first-class service, you can be assured that Property Deck will allow your selling journey to be less stressful.