Commentary: How to overcome buyer's puzzlement

Question: Dear Kari, I am afraid my Realtor has about given up on me ever choosing a home. When I started out, I wanted a newer property and perhaps a condo. Then I changed my mind to a single-family home, and now, I just can't decide and I feel stuck. Do all home buyers have the same worries I do and if they do, how do I avoid involving my emotions in the home-buying process? Answer: This is a great question to ask, as it is one many home buyers are concerned about. The home-buying process seems like it should be a very logical one which involves calculating costs and comparing home values. However, reality sets in and it is only natural that our human emotions take over our logical thoughts. When we step back and really think about the fact that a home purchase is one of the largest purchases folks ever make, then it's a very scary event. This, accompanied with fear of the unknown, along with the infrequency of buying a home, makes this a hair-raising process. Here are some common buyer's remorse concerns: · Interest rates will go up or down. · Denied for the loan. · Closing costs will be more than anticipated. · What if I wait and the market goes up? · What if my offer is rejected? · What if someone else makes an offer? · The home might have hidden problems. · Looking outside my price range. · What if I am offering too much or too little on the home I like? · What if I fall in love with the home? · What if I wait too long and I get priced out of the market? Here are some ideas to help wade through buyer's remorse: Stop looking for perfection, it does not exist. There are always tradeoffs to consider. When looking for a home, do not put such harsh conditions on your search parameters. Such as, "We want to only pay $300,000 and not a penny more." Then a home might come to market for $305,000, which is a steal of a deal and you might miss out on it. Or perhaps you tell your Realtor you must have the quietest street, then your dream home comes up with a pool you wanted within your price range. However, your Realtor perceived a slight distant road noise and didn't bother to show it to you. It is natural to want to discuss your home purchase with friends, family. They all have good intentions, however, unless they are currently in the home-buying market and are going to purchase in the area you are looking at for the same dollar amount, they will not be versed with your specific knowledge you have gained over the recent weeks or months. They will inevitably worsen your buyer's remorse by making comments such as "I hope you got 10 percent below their asking price." Once you are in contract on the home you purchase, it would be wise to not look at any other homes on the market. Once you have selected your lender and filled out the loan application, stop listening to the teaser ads on the radio of unbelievably cheap rates. People that continue to look at homes on the market tend not look at them in person, yet look at the tantalizing pictures on virtual tour websites and may become remorseful. Watch out for this pitfall. When thoughts of buyer's remorse enter your mind, think back to the first day you saw the home you're in contract on. Remember the things that first drew you to the home and the qualities that stand out in this home above all the other ones you looked at. Staying with this focus will keep distractions out of your way during your sale. When you have the anxiety of buyer's remorse, give yourself permission to feel it. Many buyers feel this way, even when it's the third or fourth property they have purchased. It is good to know, buyer's remorse is usually a faded memory after the home buyers have moved into their new home and are all nicely settled. Keep in mind, people are individuals, just as homes are unique and individual. There is a person for every house and a house for every person. Kari McCoy has been a Realtor for more than 30 years and owns the Kari McCoy Group, Residential Real estate, at Lyon Real Estate. She can be reached at 916-933-5274 or by email sold@karimccoygroup.com. License #00841588