Purchasing a home is a huge decision and never something you want to take lightly. When you buy the wrong house, you do not have the luxury of returning it to the seller once you have changed your mind. Instead, you have to deal with your disappointment. Because homes are very expensive investments, you want to do your due diligence in finding the right home. Even if you are pressured to purchase a home in a limited amount of time, there are ways to ensure you do not suffer from buyer's remorse after the purchase. About 28% of home buyers under the age of 65 reported that they regretted purchasing their home. To avoid being a part of this number, here are some tips to help you prevent buyer's remorse.
Visit the Home Multiple Times
Many buyers only visit a home once before putting an offer on the house. If you plan on living in this house for many years, it is important that you spend some time in it before making a final decision. Try going back to the home different times of the day to ensure you are able to check out everything. You also want to walk the complete lot so you know exactly what the property looks like. Also check out how close your neighbors are and check inside closets to ensure you have enough storage.
Do Not Get in a Bidding War
Once you have chosen the house you want to make an offer on, there is a possibility that another person may also put an offer on the house. It is important that you do not overpay for the house just to win it. Before you make an offer on any home, you should have a set price in mind that you are willing to go up to in case there is other competition. If you end up paying too much for the home, it may not be affordable to you any longer.
Consider the Future
When purchasing a home, you want to make sure the house is going to be able to adapt to your family as it changes. Make sure you have enough bedrooms and storage as your family grows. What may work for you now may not work a few years down the road. In a survey conducted of 2,000 home owners, 80% claimed there was one thing they did not like with their biggest complaint being the size of the home. Make sure you purchase a home that is going to house your entire family for years to come.
Get an Inspection
Just because you feel like you have found the home of your dreams, it is important to have it inspected before signing the contract. An inspection contingency can help you get out of the deal when you find that the home is not exactly what you thought. The last thing you want to do is get stuck in a home that you have to pour a ton of money in unexpectedly.
Consider working with a realtor for more tips on finding the perfect home for you.