| Buyer's
Remorse - Did You Make a Huge Mistake?
When you
were in hot pursuit of the "American
Dream" you were excited about the
future and owning your own home -- researching
neighborhoods, searching MLS sites on
the internet, viewing homebuyer's magazines
full of appealing homes that were just
"minutes from the beach" with
"fantastic views" and "cozy
family rooms."
Next came
the really good stuff - looking at houses.
Full of imagination and optimism for
the future, you wandered about each
home envisioning a happy and contented
life for you and your family. The first
house might have been "too big,"
and another was "too small,"
but finally you found one that was "just
right."
So
you made an offer and waited anxiously
and excitedly for the counter-offer.
Finally, you and the seller agreed on
terms and you bought yourself a brand
new home!
Congratulations!
Break out the champagne and celebrate!
However...
Later
that night or perhaps the next day,
you started worrying.
Did
you make the right decision? Can
you afford it? Is it the right time?
Should you have waited? What if you
lose your job? What if this happens?
What if that happens? Anxiety and stress
set in. Sleep may be hours in coming.
This
is a normal reaction to buying a home.
It is called "buyer's remorse."
This
is what you do...
Take
out a pen and paper right now and draw
a line down the center of the paper.
Calmly and logically, think of all possible
advantages to buying a home and write
them down on one side of the page. Afterwards,
you should list all the disadvantages
on the other side of the paper.
This
process is supposedly how Ben Franklin
used to weigh tough decisions.
After
you get done writing your lists, you
may think back on your anxiety and think
you were being silly. After all,
buying a home is obviously
a good decision. Your list proves
it. But your reaction was normal
and shared by many. You see, buying
a home is not entirely a rational process.
It is an emotional process, too.
You
will not be totally stress-free, but
it will help.
copyright
2006 by Terry Light and RealEstate ABC
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