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Regret. Guilt. Uncertainty. Most have experienced the unpleasant sensations that inconveniently follow even the most trivial of purchases, but the sense of buyer's remorse is infinitely multiplied when applied to the single-most expensive acquisition of a lifetime: property.
While the search for that perfect new home may create mild apprehension, some become addicted to the property chase, or experience such angst that they are unable to commit to a purchase at all.
The property quest brings with it an overabundance of options and possibilities, ultimately ending in a decision to discard all but one of these when an offer is made. The buyer has effectively narrowed the field to a single purchase, but for some, it is only at this point that doubts emerge. Common qualms have buyers questioning whether they have chosen the right home for their needs, if they overestimated the worth of the property or indeed overextended themselves financially.
This 'what if' phenomenon also extends to the very human tendency to believe something better is just around the corner, leading would-be home-buyers to wait endlessly for that one property that meets a - quite possibly - unrealistic vision. Hence, such individuals miss other valuable opportunities along the way and find often market prices have risen when they do, eventually, settle on a home, to well above the level they would have paid initially.
While many natural doubts are eventually quashed, the home buyer making peace with their decision and contentedly moving forward, there are undoubtedly occasions on which there is cause for valid concern. The home buyer is sensible to consider all issues and to determine which of these may necessitate a halt in proceedings. Difficulty in gaining adequate finance, a home that fails to appraise at the sale price, a home inspection that reveals significant maintenance issues or problems with the property deed are among the many possible factors requiring a steadfast solution before any contracts are finalised.
But how does one overcome a hesitant state of mind in the absence of any serious issues, in what might be defined as a simple case of buyer's remorse? A buyer might start by analysing the factors that attracted them to the home being considered and crosscheck these with their original list of needs and wants. It may be idealistic to expect a tick in every box, but a home that matches the most crucial items on one's wish list is certainly worth careful deliberation.
The most worthy advice in obstructing buyer's remorse is to ensure the buyer is fully informed. Unanswered questions - and the panic they generate - are easily avoided when a buyer's agent is engaged in the process of seeking and purchasing property. Keeping clients on track, ensuring the search remains relevant to individual needs and providing advice and reassurance are all part of the comprehensive service.