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Home Buyers’ Indecisions

By
Real Estate Agent with Keller Williams Realty

Home buying affects many peoples’ personalities.  Many times they are a different person during the home buying process due to internal fears.  Sometimes they have a difficulty making a decision.  This is understandable because there are many decisions that need to make in short period of time with financial consequences.  The core of this problem seems to be money.   For some people it might be advisable to slow-down your home buying endeavor in order to give themselves time to identify the exact fear, and determine how best to deal with the fear.  Following is a list of home buying fears a buyer may be encountering:

·     Spending money – Lenders and realtors tend to encourage you to buy more home based on several factors, such as: income will rise and eliminate the need to move-up, etc.  Listen to your instincts, if your instincts are speaking to you differently, it may be wise to buy a smaller home and generate more reserves for investments, home improvement and emergencies.  Remember extra savings will not get you into financial problems, but over spending always has potential financial problems.

·    Home buyers at same time may be trying to buy a home, car, paying off student loan, and adding to their family, etc.  Beware when trying to accomplish multiple goals at the same time.  Before committing, determine your order of importance, and then proceed in a manner that makes the most financial sense.     

·     Problems within your marriage.  Buying a home will not solve problems within a poor relationship.  There is a high probability this will lead to both partners losing equity and creating greater financial burdens.  The solution to this problem, both partners need to resolve to fix their relationship first.

·         Future fear may be reasonable or unreasonable fear.  Usually unreasonable fear has no basis to reality and normally requires professional help to cure the persons’ anxiety.  While reasonable fears are fears that can be manage, such as the inability to make your mortgage payment.  In this situation, the person may need time to think through the fear and/or seek help in managing their financial affairs.

In conclusion, many home buyers have some fears about the unknown, and their future ability to meet all the obligations that go with homeownership.  Once they have worked through these fears, they usually find themselves very happy with their decision of purchasing a home.

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