Buyers Remorse

Uncertainty, Regret and the ‘What if’ phenomenon. Most people experience the unpleasant sensations that inconveniently follow even the most trivial of purchases, but the sense of buyer’s remorse is infinitely multiplied when buying property.

This ‘what if’ phenomenon applies to the very human tendency to believe something better is just around the corner, leading would-be home-buyers to wait endlessly for that one property that meets an unrealistic vision while the real-estate market rises. For example in September 2017 the median Melbourne house price increase 4.5%, the average home being $718K, this is an increase of $81K.

The search for the right property brings with it an overabundance of options and possibilities. The buyer has effectively narrowed the field to a single purchase, but for some, it is only at this point that doubts emerge. For example, what is the property worth? Is it in good condition? Can I afford repayments if my circumstances change? Will this property increase in price?

Over Coming Buyers Remorse

Helping people purchase hundreds of homes over the years buyers normally catch a case of property fatigue. Buyers start off by analysing the factors that attracted them to the home being considered and crosscheck these with their original list of needs and wants, after a few failed auctions buyers start compromising and over paying for property.

The most worthy advice in obstructing buyer’s remorse is to ensure the buyer is fully informed. Unanswered questions – and the panic they generate – are easily avoided when a buyer’s agent is engaged in the process of seeking and purchasing property. Keeping clients on track, ensuring the search remains relevant to individual needs and providing advice and reassurance are all part of the comprehensive service.

Learn how a buyer’s agent can create ease in finding your next home, talk to the friendly team at Wise Real Estate Advice for more info.

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