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Solutions For Avoiding Buyer Regret

Updated: Oct 26, 2022


When things change people are always wondering if they made the decision or if they could have done anything different in retrospect. The same goes for home buyers and sellers, especially over the last year in real estate. Prices exploded during Covid and many buyers saw this as their opportunity to get in while interest rates were at a historic low. Inventory was very limited and buyers’ agents had to do anything they could to get the right deal at the right time. Now that prices have stabilized many buyers and sellers are still wondering if now is the right time to make a move to the next phase in their life. There are many hurdles and adjustments that buyers must adapt to when they transition from being renters to owners. Overnight they become responsible for every bill, repair and maintenance need that comes up. When working with a buyer I make sure we not only cover the estimated expenses associated with owning a home, but also the tools they need to succeed. Each of my buyers know that I have local resources available from qualified professionals that can help with anything from minor repairs to landscaping to remodeling. Setting up for success means having a plan and budget in case something was to happen unexpectedly. One of the primary buyer regrets I see is moving to a new location only to miss the routine and personal associations from the previous location. Obviously moving out of a familiar area is potentially a big change in comfort zone, but the way this can be avoided is outlining the pros and cons of the trade off before making any big decisions. Many people want to move a little further from the city to get a larger home but are surprised when shopping and visiting friends is a much longer drive. Others want to sacrifice space for location and convenience only to find that the tradeoff is not what they expected. Effective planning and preparation for a transition is the best strategy to be set up for success. I make sure to go over all of the options and potential outcomes with my buyers and sellers when making a move. If there is anything that doesn't feel right or make sense, we simply pivot to another option or conversation that will lead in the right direction.

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