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Avoiding Home-Buying Regrets in St. Louis

Sep 14, 2020 | Industry News

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While it’s not incredibly common, there are some homebuyers who experience buyer’s remorse after moving into their new home, and new prospective buyers may worry about running into this problem themselves. Luckily, there are some clear strategies St. Louis homebuyers can use to set themselves up for success. If you want to avoid any potential buyer’s remorse, here are a few things to keep in mind during your house search.

Know Your Budget

You likely have a range for your budget, but it’s important for prospective buyers to get incredibly clear with themselves here. What if you find your absolute dream home but it’s 30 or 40 thousand dollars above your budget? This is where some homebuyers can get into trouble. No matter how great a home is, buying well outside of your budget can set you up for challenges down the line. I recommend buyers establish their target price point and establish if there is any flexibility. If there is, it’s important to clarify that as well. Determine the absolute max you can afford if you find your dream home and commit to sticking with it.

Know Your Priorities

House hunting can quickly get overwhelming for buyers trying to weigh so many different factors. This is why it’s essential to establish your priorities ahead of time. While you might have a long list of things you’d like to have in a home, which are the most important? Is it the neighborhood? Number of bedrooms? Yard space? Getting clear on these things in advance will help you better assess the homes you find and land on one that’s the right fit for you.

Know Your Non-Negotiables

Getting clear on your priorities will certainly help you to establish some non-negotiables. Which things are so important to you that a house without them isn’t worth viewing? This can keep your search more streamlined and prevent you from looking at homes that don’t meet your criteria. In addition to must-haves, you might also find there are some must-not-haves. Maybe you don’t want a house with an inground pool, or maybe feeling too close to neighbors isn’t for you. Whatever the case, it’s useful to clarify these things ahead of time.

Know Your Willingness to Compromise

Are you in a rush to move by a certain date? That might mean you’ll need a bit more willingness to compromise. Have plenty of time to find your next house? You may get away with holding out for your dream home. Many homebuyers don’t want to wait forever though, so understanding where you’re willing to compromise and where you’re not is key to choosing the right house for you.

 

Avoiding home-buyers’ remorse really comes down to getting clear with yourself in advance. We may think we know what we want, but taking the time to sit down and actually go through these different factors intentionally can bring a lot more clarity to your search and help you avoid choosing a home that doesn’t fit you and your family. Do you have any other tips for prospective homebuyers in St. Louis? I’d love to hear your thoughts!

 
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