Australia Forum banner

Status
Not open for further replies.
1 - 2 of 2 Posts

·
Registered
Joined
·
5 Posts
Discussion Starter · #1 ·
For most people the decision to spend thousands of dollars, on any item, usually comes with it's own ups and downs. When you're buying a house the ups and downs can feel more like bungee jumping.

First there's the excitement, whipped up by the brains release of happy endorphins, as a way of self congratulations for having actually made the decision to buy something. It's one of the biggest decisions we will make in our lifetime.

The fact that a decision has been made then triggers a series of doubts which explode across this background of happiness and collide with your consciousness. This usually ends up as that little voice that keeps saying . . .'Are you sure you want to do this now? . . . You know you can't afford it . . . What about all the other bills?'

In the real estate world this battle, that many homebuyers go through, is known as 'buyers remorse'. For agents it starts with a phone call, one or two mornings after a buyer has agreed on a purchase, and usually sounds something like this. . .

'We're having second thoughts about buying the house and we don't think we want to proceed at this stage . . .'

Many transactions start to fall apart at this point. Sometimes the buyers are right and the home is really not the one for them, and sometimes the fear associated with the purchase can cripple the dream.

So how do you know if you're making the right decision?

How do you get past the normal buyers remorse feelings, so you can make a decision based on clarity and reality.

It starts well before you even begin looking at homes. It starts by doing the same thing many of us do before we go grocery shopping. We make a list, and on the list we usually have two distinctly different types of items . . . Those things we need and those things that we just want!

Need the vegies . . . want the ice cream!

It's no different with house shopping. Make a list of the things you cannot live without and another list of the things you would like. These are your needs and wants, and it will probably take some haggling to work out where some things should go. Could you get by with three bedrooms or does it have to be four? Is no ensuite a deal breaker?

Your list is your reference point, your buying compass. The place you can always go back to when the confusion of house hunting sets in. Here's a link to a Buyers Needs page. You'll notice it's not a huge list as most things we desire are wants, not needs.

Buyers remorse can kick in when your buying decisions are based more on your wants than your needs. Other times it is just the fear of making such a big decision.

If you find yourself feeling stressed about making a buying decision, go back to your list. Firstly, does the property meet your needs? If not, can it be adapted to meet your needs? Once this is established look at your list of wants. How many wants get a tick? Can you live without the others? Can you add the others later? You'll immediately get a feel for how the property really stacks up, and feelings are very important. If you are going to live there, it has to feel right to you! That's where another inspection can be invaluable.

After rechecking your list, revisit the property. A good indicator for whether a home is the right one is the feeling you get with another inspection. This time go with a clear goal. . . How does it feel? Does it feel like somewhere you can call home? Does it feel as good or better than last time you were there?

If it does you've probably answered your own question.

Of course you could always use Home Buyers Advantage and get some professional advice to help along the way!
 

·
Registered
Joined
·
7,467 Posts
Dave, give it a rest or you'll end up where all spammers go and it'll not be the ferry across to Iluka.
If you want to advertise, feel free to contact the administrator and it'll not break your bank.
 
1 - 2 of 2 Posts
Status
Not open for further replies.
Top