Buyer’s Remorse

If you are like most buyers who sign a purchase agreement on a new home, you will almost certainly feel a wave of overwhelming anxiety. You may begin to question your judgement — did I pay too much? Is it the right home? Can I really afford the mortgage payments? How can I get out of it? This response–referred to as “Buyer’s Remorse”–is completely normal!

Call your friends who have owned a home for a few years if you experience an attack of buyer’s remorse. Are they bothered by rapidly escalating home prices? Probably not, because that means the value of their home is increasing. Did they feel anxious when they first signed the agreement? They may tell you that they felt just as anxious as you are feeling, but now are really glad that they went through with the purchase. Have they made improvements to the property that heightened their enjoyment of the home? They will probably say they much prefer the creative freedom of being a homeowner compared with having to ask the landlord’s permission to put in a garden or paint the living room.

When you experience a buyer’s panic attack, be strong — you have a great deal to gain!