9 Steps Houston First Time Home Buyers Should Take to Avoid Buyer's Remorse
Good afternoon, You are excited about the purchase of your new home. You have found the perfect home for you and your family. You call your realtor and inform him or her, to submit an offer. There is no doubt, adrenaline rush can be a part of buying a home, especially if it’s your first home. However, to ensure you do not experience buyer’s remorse after the closing, here are a few things to do and or watch out for before you even submit, the offer.
Budget: Do not go over your budget. Stick to your budget. Making an offer above your loan amount may cause you to not only dip into savings, but will increase your mortgage payment.
Never Skip the House Inspection – Sometime, during an excited market, home buyers will skip the inspection just to get their offer accept. I get that. However, every buyer is different. If you have the resources to handle whatever surprise pops up after the closing, OK, if not, then do not skip the inspection.
If You Can, View the House in Person - Yes, modern technology like video chatting and Zoom does make it feel less risky, but keep in mind, it is a large purchase. Virtual tours are convenient, especially if you are in another state. But ask yourself, will your phone be able to smell any odors or feel dampness in the attic?
Maintenance: You want to save money and I get that. However, When it comes to home ownership, there is one constant: if it breaks, it's your problem. Whether you’re buying a brand new home or an existing home, remember maintenance will be your responsibility. You do not want to purchase a home that become an unplanned fixer upper.
Home Size: When I take client to view homes, I like to show them homes that are empty, why? Because they can see the real size of the usable space. Remember, a home that is staged very well can make small areas appear larger. Understand what your space needs are before you make your final decision.
Neighborhood: When it comes to any neighborhood, I always tell my clients to drive the neighborhood during the morning, evening and night before making a decision. Make sure the neighborhood will fit your lifestyle. Will you be OK with unruly pets or traffic noise and frequent loud parties. What about construction noise?
Location and Traffic: How long will it take you to get to work? Houston traffic is what it is. Make sure, before you submit your offer, to take a drive during rush hour to see what your true commute will be like. House hunting on the weekend may not show a true representation of what traffic will be like during rush hour Monday morning or Monday evening. So, take a drive, and while you’re out, visit the neighborhood and talk to a neighbor or two. They are usually not shy.
Do Not Under Estimate the Power of Your Instincts – While a bit of stress is expected, a nagging feeling that something just is not right should be reason to take a few steps back and rethink or reassess.
Realtor: Make sure to work with a REALTOR that will put your interest first, and talk to him or her about everything. Remember, your REALTOR is there to represent you. It is not unusual to have doubts after making a large purchase. By following the above mentions, you should be able to avoid buyers’ remorse. As always, thank you for stopping by. Until next time...Diana
Image by Diana
