Inconjunction Real Estate - Buyer's Remorse

Imagine this – You’re in the throes of negotiating, you’re caught up with the inspections and mechanics of the process, your mind is racing at 100 miles / hr. Finally you get across the line….contracts are exchanged!

That night you sit quietly with a glass of wine. Everyone’s gone to bed, happy and relieved - except for you. You can’t settle, you break out into a sweat, you feel queasy…. AAARRRGGGHHH - WHAT HAVE I DONE?

You start to worry about the mortgage repayments, about losing your job, are the schools really OK? Did I act too quickly? ......and what about the dog’s bedroom……..

Don't panic – this is a normal reaction. It’s called buyer’s remorse (“a tendency to have second thoughts about a purchase”), and can affect anyone that makes a major financial commitment. When buyer’s remorse strikes - here’s what you should do: -

Relax and recognize that it’s a normal reaction;

Go back to your Needs and Wants list and review all of the benefits that your home has, and how well it meets your “Needs”;

Go back to your reasons for buying (review the list in this guide) to remind you why you wanted to buy in the first place;

Remember why you fell in love with your new home, and what plans you’ve made for it.

Reminding yourself of the reasons for the change will help you to reassure yourself that you’ve made the right decision. Allow yourself time to adjust to the change – in a few days time you’ll be back on track. In a few days time you’ll know that you’ve made the right decision!