I recently unloaded my house and moved across the country. While I wouldn’t exactly say I had buyer’s remorse about the home, since I enjoyed living there, I am not eager to buy a home again. Indeed, after owning, I think I’d be fine renting for the rest of my life. But that’s more of a lifestyle choice.
If you are into buying a home, you want to avoid buyer’s remorse, since a home is a big purchase that’s hard to get rid of in the long run. CNN Money has these tips for avoiding buyer’s remorse:
- Know your core requirements, and stay firm: Figure out what’s most important to you. Space? Good school district? Whatever your most important requirements, determine what you just can’t live without, and then stick to those.
- Don’t cave to your partner: While compromise is good, don’t be talked into something that you will regret just to keep the peace. If you know you’ll hate it, stand firm and don’t buy it.
- Understand what you are willing to give up: You should also know what you are willing to give up on. You’ll have to give in on something, so make sure you know what’s not all that important, and be willing to compromise on those items.
- Don’t make a snap decision: Make sure you mull it over and that you are really ready to buy (and that you want THAT home).
- Research: Do your research and know what’s available, and what’s reasonable to pay. You don’t want to be taken for a ride.
If you prepare ahead of time, you can get a good deal on the right house — and feel good about the decision for years to come.