Purchasing a home often comes with mixed feelings.
On one hand, you’re excited about taking perhaps the biggest step towards achieving the American dream, and on the other hand, you’re scared of making a costly mistake. Right? I can relate!
These fears are not unfounded, as there are real risks involved in buying a house – and real estate issues to consider that can be troubling. But with the right information at your disposal, your fears and concerns can be laid to rest and your dream home can become a reality.
Let’s look into three of the top buyer fears that may be holding you back from making a purchase and how to overcome them.
Fear #1: Value of the house will decrease
The truth is, housing prices do fall, and not necessarily due to some disaster. In fact, there are other, less dramatic reasons why the value of your house could experience a decline.
For instance, it could be due to the gradual decline of neighborhoods, the emergence of newer, modern homes nearby, or the effect of a downturn in the economy.
What to do?
Choose a good neighborhood with a good history of holding home values. Areas that are mostly owner-occupied with low crime rates and good schools are the way to go.
Fear #2: Cost of home ownership
The cost of buying a home is one thing; the cost of maintaining it is another. Often it’s only after the purchase that you may discover hidden maintenance costs that go through the roof.
What to do?
Look for properties that have had updates to major features to eliminate extra maintenance costs. Have an inspection done of features like the roof, doors, electrical, and plumbing and make sure everything is in top condition before you buy.
Fear #3: Buyer’s remorse
Having doubts about buying a house? You’re not alone. Almost everyone fears they’ll buy the wrong house and regret their decision down the line.
What to do?
- Know exactly what you’re looking for and go for it.
- Know what you don’t want and do everything to avoid it.
- Decide what you can compromise on, and be sure of what you can really do without.
Above all, lean on professional advice. Make that life-changing decision to buy your dream house with the help of an experienced real estate agent – like me! I can help you navigate the challenges – and rewards – of buying a new home.