Sidestepping Causes of Buyer’s Remorse in Home Buying

Posted by Dan Wolf on Friday, November 14th, 2014 at 8:47am.

You are ready to buy a home in Anchorage, Alaska. With the help of a seasoned Realtor, you should be able to sidestep the common causes of buyer’s remorse in home buying. According a recent study by HSH.com, 80 percent of homeowners had one or more regrets about the purchase of their home. Some of the home owners wished they could go back in time and pick a home that was a different size, had different neighbors or was in a different school district. Of course, during the housing boom, some people bought homes they couldn’t easily afford at the time. Eventually, people who were once underwater on their mortgages gained back equity. When going on the home buying journey, it’s wise to carefully consider several factors before signing the closing papers. By house hunting in Anchorage with a good Realtor, you will successfully navigate the home buying process.   

Buying a home with adaquate space

According to the study, 16 percent of home buyers ended up feeling like they bought a home that was too small. More than 9 percent didn’t think their home had enough storage space or closet space. When house hunting, think about the number of bedrooms, bathrooms and flex spaces, as well as the overall square footage of the house. Keep in mind that the average size of an American home is now 2,600 square feet. If your Alaskan home has a panoramic view of the mountains, you may not feel as claustrophobic.

Considering future needs

Experts say many buyers’ regrets aren’t realized until their circumstances change. For example, if aging parents move in or boomerang children return, a once spacious home could feel cramped again. Home buyers can avoid regrets by planning for future and changing needs. Also, some people ended up being displeased with the school system. If you don’t have children now, but may, research the local schools.

 

Only 3 percent of those surveyed said they felt their home was too big, which means it’s unlikely you’ll end up with too much home. At the same time, people can become overwhelmed with a mortgage that’s difficult to pay so work with a realistic home buying budget. Other factors to consider include the neighborhood, natural light in the home and maintenance costs.

At Wolf Real Estate, we value our clients and want them to be satisfied with the home they choose. For more information on how we can help with the home buying process in Anchorage, Alaska, please contact us at 907-248-9653 or visit us online at www.anchoragehomesearch.com.

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