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Sound Off: Avoiding cases of buyer’s remorse

Purchasing a home can be a most stressful event. Studies have shown only death and divorce can cause a person more anxiety. [...] educate yourself as much as possible about the market, understand the inventory and what comparable sales have occurred. Once you have made your decision, understand normally well-meaning friends and family may inadvertently confuse you, especially if they’re from out of the area and don’t understand the local housing market which can be vastly different across the country. If you’ve done your homework, you will know you have made a solid investment and will begin growing that all-important equity, essential for building your financial future - a very exciting and worthwhile decision. An outdated kitchen, older baths, unattractive paint colors, dated windows, lack of landscaping … even if your budget does not allow for upgrades at the moment, cosmetics like this can be changed in the future. Have the property inspected and pay attention - finding out that you have to replace a foundation after you’ve already purchased your new home is not a great way to start things off. [...] take the time to educate yourself about the school district, the neighborhood, the homeowners association, the taxes, the zoning, etc. The most common, and most natural, thing for buyers to do following close of escrow is to look at properties that come up for sale shortly after their purchase has closed. Compound this concern with the fact that after the initial “ test run” it is not unusual to find items in the house which buyers wish were different, so it is not surprising that buyer regret can set in.

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