While not terribly common, some homebuyers experience buyer’s remorse after moving into their new home. Prospective buyers should be aware of this problem, and more importantly, have some strategies in place to ensure this doesn’t happen to them. Here are some good tips to keep in mind during your search for a Southern Maryland house:

Budget

You should be perfectly clear on your budget before you begin looking at houses. Homebuyers often get into trouble by coming across their dream home, knowing that this is the one, then finding out it’s 30 or 40 thousand dollars above their budget. Falling in love with a house well outside of your budget can create major problems down the road. If you establish your target price-point in advance, along with your absolute limit, you can keep yourself from committing to a mortgage that could become unaffordable in the future. Determine your budget and commit to sticking to it.

Priorities

Establishing your priorities in advance is incredibly important. While you might have a long list of things you’d like to have in a home, what do you really need? Think about the space you require now, and what you might require in 5-10 years. Decide on the number of bedrooms you’ll need, and what you require from the common areas, yard and garage. Being certain of these things in advance will help you better assess the homes you find, and choose one that’s the right fit for you.

Non-Negotiables

Assembling your list of priorities will help you establish some non-negotiables. Which things are so important that a house without them isn’t worth viewing? This information will help you streamline your search, save time, and lower the risk that you choose something you’ll later regret. After assembling the must-haves, think about some must-not-haves. Maybe you don’t want an inground pool, or maybe being too close to neighbors isn’t for you. Whatever the case, it’s useful to know what you don’t want before beginning your search.

Willingness to Compromise

If you’re in a rush to move in by a certain date, you’ll have to be willing to compromise. Knowing where you’re willing—and not willing— to compromise will aid your final decision. If you’re not in a rush, it may be a little easier to find exactly what you’re looking for. Sellers won’t wait forever for you to make a decision, so be prepared to act in a timely manner.

Avoiding home-buyer’s remorse really comes down to doing your homework and being clear on your requirements in advance. You might think you know what you want, but spending time on the details up-front can bring clarity to your search and help you avoid choosing a home that doesn’t fit you and your family. 

If you need a referral for a local Realtor, or if you’d like to see which loans you qualify for, I’m always happy to help.