Dealing with Buyer’s Remorse
You’ve made an offer on a home. The offer has been accepted, and now you are thinking "Geez, what did I get myself into?? Can I afford it? Should I have waited? Is it the right house? What if such and such happens?" Don’t worry, you aren’t alone. This is referred to as buyer’s remorse and happens to just about every home buyer at one time or another. The best step to deal with buyer’s remorse it to plan for it in advance.
Before you start shopping for a home, take a sheet of paper and draw a line down the middle of it. At the top of one side of the sheet, write the word "Advantages" and on the other side write "Disadvantages". Now under the advantages side write down all the great things you can think of about buying a home. Be sure to include every benefit you can think of. On the other side repeat this process, but write down any disadvantages of buying or negative items you can think of. More than likely the side with the advantages will be much longer than the side with the disadvantages.
Now put your list aside and go shop for your home. Once you make your offer and it is accepted and you start feeling those nagging pangs of doubt and worry, bring your list out. Review all the benefits of owning a home. Since you wrote your list while you were in a more rational state of mind it should help comfort you and reassure you that you have made the right choice. It probably won’t eliminate the fear altogether, but it will help to put things back in perspective
Now stop worrying and start enjoying your new home!