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In the past one and half years COVID real estate market has been a hot market for buyers. And now buyers who purchased homes in the past year are already experiencing buyer’s remorse.
When you make an investment in a home, which is your biggest financial decision you don’t invest hastily.
Unfortunately, the market had forced a few buyers to make spontaneous home purchases, and now feeling pressure to overpay to get the home immediately in this low inventory market.
A few of those homes where the buyers weren’t happy with their decision are going back on the market in less than a year.
There are many reasons like the buyer being unhappy with the location, the work from home status being changed, or other reasons for them not being happy with the home.
Here are some tips that you can take to make sure your purchase is the right investment, and you don’t land up with buyer’s remorse:
- Explore the neighborhoods where you wish to buy a home, be sure all the facilities you need like school, transportation options, flood zones, traffic, etc are at a comfortable distance.
- Understand that you are making an investment at least for the next fifteen to thirty years.
- Before looking at homes have your mortgage pre-approval prepared.
- Have a local real estate agent and understand the risks of avoiding home inspections or appraisals.
- Go through the seller’s disclosure, look at the property surveys, know about the future expenses like property taxes, maintenance, etc. Have an experienced realtor guide you and take care of issues.
- Get your home inspected by a qualified licensed inspector. And avoid making the wrong choice.
Reference Source: Tapinto.net
