What if you lose the house or a better house becomes available?
For buyers out there looking for their perfect home, it can be a difficult decision. A decision to finally take that step or the decision on whether or not the house is the perfect house. Valerie Zinger wrote some terrific advice for these types of buyers. I have disabled comments.
You, the Buyer, need to find a middle ground. Don't be rushed into a purchase from which you cannot easily escape and don't freeze from indecision.
Yes, you have a little wiggle room to change your mind after you have made an offer. You can possibly back out if the building inspector finds significant faults, if your banker will not give you a mortgage or if you do not sell your current house (when all of these are part of the contract). These three items are the usual conditions on a sale. If, on the other hand, you cannot get a pen to an offer because there just maybe something better, it is time for you to reevaluate.
These types of Buyers are two ends of the buying spectrum. There are Buyers who find a house and the no other house except that specific house will do. The other end of the spectrum are Buyers who find a great house but are sure that better ones will come along any time so they want to keep looking to make sure that they are getting the best house. Both extremes make purchasing a home difficult. Anxiety builds up and emotions become a significant part of the buying process.
My advice to Buyers is to relax a bit. For the first type of Buyer I want you to know that new listings become available daily. While another house may not have the exact same features, it may have features that are as good or better. Don't panic yourself into buying a house. Life is not really a TV show where you get to see three houses and have to choose one of them. Make time available to look for a house. Do not take longer to buy a car than a house. For the second type of buyer, frozen by indecision, my advice is to determine what you really need, focus on getting your needs met and any additional benefits in the house are bonuses. Once you jump into the purchase you can do it knowing that one house may not satisfy your needs for 50 years. You can move again as your life changes.
Spending money for a house is stressful. Realize that you may become anxious but that you can mitigate this by working with a REALTOR® and being realistic about your needs and wants.
Photo credit: Anxiety attack at the castle
Valerie Zinger email: vzinger@royallepage.com (613-723-5300)
Royal LePage Gale Real Estate, Ottawa, Ontario, Canada
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