Buyer’s remorse – it can happen to anyone, especially when what you’re buying costs a whole lot of money. And, yes, it happens to homebuyers, more often than you may realize and especially during buyers’ markets when there are more homes for sale than buyers in the market. Psychologists even have a term for this: The paradox of choice. They say that when the number of choices available increases, so does the buyer’s stress level.

Think back to the last time you shopped for a car. Unless you knew exactly what car you wanted, you may have gone back and forth, weighing the pros and cons of different models. When you finally settled on one, did you have that little voice nagging you – “What if I’m making a mistake? Maybe I should’ve bought the Honda instead of the Toyota?”

That, my friend, is cold feet, and it doesn’t just happen to reluctant brides and grooms. It’s the first symptom of a full-blown attack of buyer’s remorse.

Dealing with chilly toes

Ignore the “what ifs.” Sure, that sounds easier said than done, but if you remind yourself of the reasons why you chose the home you did, why it was superior to the other choices, the nagging questions will disappear.

Make a list of all the reasons you have for buying a home, from the tax benefits to being able to paint the walls whatever color you choose to finally getting a dog for the kids. If all else fails, rely on the wisdom of a trusted friend or relative. Run your doubts by him or her and get some feedback. You’ll probably realize your fears are normal but unwarranted.

And, remember, your contract to purchase the home is full of contingencies that will allow you to back out of the deal at several points during the purchase process. While you probably won’t do that, at least that knowledge should bring some relief from the panic you may be experiencing.




Posted by Jolenta Averill on
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Great post,Yes you are right this happens to almost every buyer.But after some time everything goes to normal.Thanks for sharing your thoughts about it.

Posted by cashflowsavvy4 on Tuesday, October 6th, 2015 at 1:24am

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