Are You Afraid to Buy a Home?
I think reading the noted post on “Buying a Home? Don’t Let Fear Get in Your Way” by author, Steve Harney, founder and President of Keeping Current Matters, can help agents better counsel their buyers.
Effectively counseling buyers by reviewing their goals and how this home purchase "meets the buyers goals" (not the agent's goals) can be exceptionally helpful. Lots of people feel nervous or apprehensive during the buying process-it's our job to help them remember why they want to buy a home in the first place.
Are You Afraid to Buy a Home?
I recently read a blog post on Keeping Current Matters, “Buying a Home? Don’t Let Fear Get in Your Way.” The author, Steve Harney, founder and President of Keeping Current Matters, talked with a young couple closing on their first home. While they were excited about their new purchase, it was clear from the discussion that a number of friends of theirs were afraid of buying a home, for a host of reasons, and were continuing to rent.
I know, from being intimately involved as a REALTOR with many buyers, a good percentage of who are first time buyers, and having bought many homes myself, that the home buying process, or aspects of it, can be scary to buyers.
Fear, perhaps, is a strong word. Maybe apprehensive is better.
No matter what you call it, there are issues with buying a home that cause lots of emotions, especially for those who have never done it before.
Making decisions about what you want and need and where to live is a huge undertaking. “What if I make the wrong decision?” You can’t just change your mind and stand in the “Returns” line at the store, can you?
Can I really afford a home and can I qualify for a mortgage? Good questions, and definitely a scary part of the process. You NEED to know what you can afford. And taking on a huge monthly payment that you’ll have for a while is pretty scary. And all the talk over the years about mortgage problems, people defaulting and losing their homes is bound to cause a bit of anxiety.
How will I know when to make an offer? How much should I offer? What if my offer does not get accepted? Questions every buyer asks, in some way. There is an unknown about the offer process – you won’t know what will happen until you do it.
What happens after I make an offer?
Do I need a home inspection?
What if there are problems with the inspection?
The list of scary stuff could go on and on.
The cause of apprehension, and perhaps fear, in most cases is lack of knowledge. The unknown. And with the purchase process being a new experience for lot of buyers, there are so many unknowns.
Getting around much of the apprehension is simple – ask lots of questions. And more questions. While the Internet can answer many, your best resource, and one where you can have a dialog and ask for clarification and not just read a supposed answer, is your REALTOR for matters associated with the process and not the web.
Your mortgage professional is a key source of answers about the loan process. And if not, move on.
Other professionals in the transaction will provide answers to those questions to help alleviate apprehension – inspectors, title and escrow professionals, and so on.
And more importantly, since sometimes you don’t even know the right questions to ask, these professionals can help there, too. And they will want to so you can be successful.
It’s fine to feel fearful, scared or apprehensive about buying a home. It’s a huge undertaking and the biggest purchase you will make. But getting answers to your questions to alleviate those fears WILL enable you to move forward to buy your new home. People do it by the thousands every day.
Don’t let your fear keep you from this if you truly want to own your own home, and are financially qualified to do so. Indeed a little fear wiull help you stay on your toes and ask plenty of questions so you are prepared, and to get the help and guidance you need.
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