Combat Buyer's Remorse

Blog Post Image
Real Estate

Combat Buyer's Remorse

You just got the call—your offer’s been accepted and you’re going to be a homeowner soon! So why do you feel like driving off a cliff ala Thelma and Louise?

It’s called buyer’s remorse, and it’s as universal as the common cold. But statistics show 74 percent of first-time buyers and 67 percent of repeat buyers say they like their new home better than their previous residence.

So when buyer’s remorse hits, review this list to remind yourself why you wanted to buy a house in the first place.

Renting:

- No tax benefit

- No investment in or from the property

- No equity

- Rent payment can increase

- Possibility of eviction

Buying:

- Greater stability

- Usually good investment

- Equity builds

- First home often leads to better home

Greater individuality in décor/space arrangement

- Sense of security

Buyer's remorse is normal, so be sure and don't let your fears take over. Just think about all the reasons you started your home search in addition to reviewing this list.