4 Tricks to Make Home Buying a Treat
You’ve done everything right thus far into the home buying process. Your finances aren’t in the dark – you’ve been pre-approved with Cambria Mortgage and are searching for homes within your budget. You’re prepared and able to act fast, secure your dream home and prepare for moving day. You’ve finally found “the one,” things just got real.
You’re doing this, you’re really doing this! Are you really doing this? Regardless of how much you loved the home when you made the offer and signed the contract, you’re suddenly questioning your decision. Is this home more of a trick than a treat?
What if… This isn’t the one? What if… I paid more than the home is really worth? What if… I lose my job and am unable to make my payments? What if… A better home comes onto the market? What if… You’re overreacting? Let’s face it, a home is the most expensive thing most of us ever buy. All those commas and zeros after a dollar sign can make a person queasy. Take these next steps to overcome homebuyer’s remorse and put your mind at ease.
Trick One: Locate the List
You probably crafted a list of wants and needs as you began to search for homes. What features were you dying to have? Which ones could you live without? Dig out that list and look it over. Does this future home include the most important things on the list? Take a minute to think about all the things that drew you to this home. What was it that made you say, “this is the one,”? Do you really feel you could find a better home than this one within your price range? Consider the facts to sort through your feelings.
Trick Two: Ask for Professional Guidance
Your agent should provide adequate guidance from the first steps of the home buying process all the way through to the closing table. They should be able to give you insight on whether or not you should be concerned about certain aspects of the home buying process.
Trick Three: Stand Your Ground
You’ve probably shared the new-home-news loud and proud with those you care about and it’s inevitable they’ve probably shared their opinion with you. It’s not uncommon for people to question your choice and what you paid, especially if this is your first home purchase. Regardless of how much Great Uncle Phil paid for his first home, times have changed… so has the market and home prices. This brings us back to trick two, if you’re having doubts, huddle up with your Realtor to clear things up.
Trick Four: Discontinue the Home Search
Scouring the internet’s latest listings and attending more showings is a big mistake. The only case where continuing to look for a home while you’re under contract is a good idea is if you’re unsure of the outlook of the appraisal or the home inspection. That brings us to our last point…
Signs the Home is Truly not a Treat:
Here are a few valid reasons to back out of a contract:
- The house didn’t appraise at or above the sales price noted in the contract.
- The home inspection has brought to light more repair issues than you are comfortable with.
- There are problems with the deed or title.
- There are legal uncertainties of the property. This could include things like boundary lines, undisclosed easements or liens.
At the end of the day it’s up to you to determine whether you’re feeling spooked due to legitimate reasons, or if it’s just a case of the home buying “scaries”. Your home buying team, including your realtor and your Cambria Mortgage Loan Officer, will help you through every high and low of the process.
To get started, call Cambria Mortgage at 952-942-0110 or visit CambriaMortgage.com. Our team of mortgage professionals will provide personal, hometown service with sound advice and impeccable attention to detail at every step of the process.