Yes, the home-buying blues are a real thing; While it’s not an official, clinical term, it is one I would use to describe any fear, anxiety, or regret surrounding the home-buying process whether you’re in the looking stage or you’ve already signed the papers.
I definitely experienced the home-buying blues during our last purchase after we had signed the deal (this was before I was a Realtor). I would wake up in the middle of the night completely panicked at the decision we had made. We were moving from a beautiful home that we had put a lot of work into to one that needed a lot of work, on top of that our monthly payments were increasing! I would panic that we didn’t make the right decision and that we wouldn’t be able to make it happen budget wise. Fast forward a few years later and I couldn’t be happier. I knew, deep down that we were making the right decision but sometimes it can be hard to keep focused on the end goal and vision.
The home-buying blues are completely normal and even part of the process – a home purchase is, after all, likely one of your biggest investments, so it can be a scary thing. There are things, however, that you can do to help reduce any fear, anxiety, or regret you might have around buying a home:
- Do your homework. Know what you can afford and ensure you have someone helping you that can keep you accountable to your budget.
- Try not to get influenced by fancy décor, the seller’s furniture, or staging. Sometimes, especially when viewing new properties, the show home will include extras that are display items only. If you base your decision on these extras you might have regret or disappointment when you move in and the home you purchased doesn’t have these things.
- If you do experience the home-buying blues, speak to someone that can relate and help remind you of your goal and vision. You may even want to write down, what your end goal is, before your search gets started.
- Know what your top price is before getting wrapped up in a bidding war. If you can keep a level-head, you’ll be less likely to make a decision you might regret once the excitement from the home-buying process dies down.
- Research and ask your Realtor what the market is like so you know what to expect in terms of the competition you might face when buying a home and so you know what supply and demand is like.
- Work with a supportive Realtor that can help you through all the stages of the home buying process and that can relate to what you might be experiencing. Working with a knowledgeable and empathetic Realtor can make quite a difference in the home buying process.
While usually my blog posts focus on the lighter side of real estate; I felt that this was an important subject to broach. Knowledge is power and the more knowledge you have around the realities of buying a home the better a position you’ll be in to make that purchase.
Fiona White – REALTOR® with Sutton Group – West Coast Realty