Avoiding Home Buyers Remorse

By: Thomas Cook

Avoiding Home Buyers Remorse

5 STEPS TO AVOIDING HOME BUYER’S REMORSE

 
Have you ever bought something but then, later on, found yourself regretting that purchase decision?  Well, it’s no big deal when you can easily return or exchange something like a pair of pants or even a leather purse.
 
A house, on the other hand, is much more permanent.  It’s not only the largest investment you’ll ever make, but it’s also the place you’ll come home to every day, and where you’ll spend years making life memories as your family grows.
 
There may be increasing pressure to make a quick decision in today’s fast-paced and competitive GTA real estate market, but it’s important to stay grounded throughout the home buying process.
 
Before you try to compete with other interested buyers and snag that ‘hot under-priced listing’, take a breath and follow these steps.
 
Stick To Your Home Requirements
 
Before you even start your search, make a list of your ‘must-haves’ in your new home.  If having a condo with a lake view is on the list but the suite faces into an interior courtyard, move on.  Don’t let yourself settle for a worn out kitchen and then end up making expensive renovations because it’s not exactly what you wanted.
 
Know Where You’ll Compromise
 
Note any items that are on your home Wish List, but you could live without.  There should be a couple of home features that you and your partner or spouse can compromise on.
 
Stand Your Ground
 
Even after you have made a decision to buy a specific home, don’t let yourself overlook major issues.  For example, if the inspector finds a cracked heat exchanger in the condo furnace or a cracked foundation in a house, you should either back out of the deal OR get the price lowered to reflect the cost of the repairs.
 
Keep A Clear Head
 
If you get stuck in a bidding war with another buyer, you need to ask yourself if you really want the home or if you just want to win the fight.  The last thing you want to do is end up substantially overpaying for a house that doesn’t completely satisfy all your needs.
 
Love The Home’s Proximity
 
You can change many things about a house or condo, but you can’t change the location.  Think about what you do every day in regards to where you live.  This includes where you work, where you have to take the kids for daycare or school, and where you do things for fun.
 
These are all very important factors to consider when buying a home and, most importantly, avoiding home buyer’s remorse.  Find a condo or a house you’ll love living in every day.  The less you want to change, the better!
 
Having a face-to-face Buyer Consultation is one of the best ways to start your home buying search.  We’ll ask you for a Wish List of your must-haves and would-likes and then compare that to actual listings that are on the market right now.
 
Text or email me and I’ll send you a link to the Wish List and we’ll get started building your home buying plan.
 
Thomas Cook
Thomas@LivingInToronto.com
647-962-1650

 


Keep Up To Date With Toronto's Real Estate Market
 
Every month we communicate with our readers to give them accurate insights and statistics about what's happening in the Toronto and GTA real estate markets.
 
Subscribe to our free monthly FYI Newsletter HERE.


 

Here are 5 proven ways to move safely and smartly towards your real estate buying goal...

  1. Download a free copy of my Ultimate Home Buyer’s Guide book
Find out everything you need to know about buying a Toronto house or condominium. Instead of randomly searching all over the internet, jump start your home buying experience and get a wealth of expertise and experience in one place.

Download your Guide here
 
  1. Get a custom listings search set up for you and receive targeted listings daily
If this list is not specific enough for you, we can put together a custom list of homes.  Maybe you want only 2-bedroom condos in specific neighbourhoods, or only semi-detached houses, or even a certain school zone. 
 
We can set up your HOMEWatch search for any area you choose (not just downtown Toronto), and you'll get immediate access to homes within minutes of them being listed.  Just leave some search criteria here
 
  1. Set up a step-by-step plan with the best ways to get to your home buying goal
At the beginning of the home buying journey, often the picture of what the end result might look like is a little ‘fuzzy’.
 
Our first-time and move-up buyers have told us that being able to meet with us on a casual basis as early in the process as possible, even if their purchase date was 6-12 months away, really worked the best for them.
 
To arrange your no-obligation Starbucks Strategy Session, click here.
 
  1. Join us for a Market Experience Tour - pick your favourite neighbourhoods and price range
Start getting educated about what your condo likes and dislikes are. 
 
The Market Experience Tour is a great way for you to figure out which neighbourhoods and condo buildings are right for you, and you’ll also get a good sense of what’s available in your price range.
 
Pick the date and time you like to go on your Tour.
 
  1. Don’t start your home buying experience on the wrong foot - Meet for a Buyer Consultation first!!
Home buyers have come to us after trying to work with another agent saying “I don’t think he even knows exactly what I’m looking for and I’ve got questions he doesn’t have the answers to”.
 
Don’t make the same mistake.  Let’s set a time to meet and go over how the complete home buying process works, find out what your likes and dislikes are and what pitfalls you’ll want to avoid, before you seriously start looking for a house or condominium.
 
This is the best 90 minutes of time you’ll ever spend - set up your private Buyer Consultation.