3. Scenarios that Bring on Buyer's Remorse
Remorse sometimes kicks in after we start talking to others about the new house.
Discussions with family and friends.
They usually mean well, but it's not uncommon for family and friends to question your choice and what you paid for it, especially if it's your first home purchase and they are seasoned pros.
But do they know the market? It may have been years since they bought a property themselves, and if that's the case they probably aren't in touch with current prices. They might even live in another part of the country, in an area where housing costs a fraction of what you can expect to pay at your location. And let's face it, parents rarely think a house is "good enough" for their children.
Continuing to look at houses.
Big mistake. Stop looking at other houses unless you feel the contract has a good chance of falling apart (you're not sure the appraisal will be satisfactory, you think the home inspection might uncover serious repair issues, etc.).
Real estate agents who offer no guidance.
Some agents do not guide their buyers through the closing process. Questions and doubts pop up and the agents aren't around to provide answers and assure their buyers that what they are feeling is normal. Unanswered questions can put buyers in a panic mode, especially when it's their first home. Panic leads to doubt--and ultimately buyer's remorse.
Contact your agent and others involved in your closing whenever you have a question. It's their job to help you.
Your own doubts.
Nothing in life is certain, and we tend to think about the uncertainties even more whenever we make important commitments, dwelling on the negative what-ifs instead of looking at the positives.
