From neighborhood choice to financing, here are the top six buyer regrets.
Before we get started on today’s topic, I want to congratulate one of my favorite clients, Chris, who recently bought a beautiful waterfront home on the broads of Lake Winnipesaukee! It was a pleasure working with you.
According to surveys conducted by Zillow, there are six main regrets that buyers tend to have after purchasing a home:
6. Wishing they had a different mortgage broker. If you feel comfortable with your mortgage broker because you’ve used them before, then by all means, work with them again. However, if you don’t have a preference, ask your Realtor. I work with a handful of phenomenal brokers and local banks.
5. Wishing they had a different method of financing. This could mean a lot of things depending on the buyers’ needs and circumstances; a buyer could lament not having chosen a 30-year fixed rate, or they could desire a 15-year adjustable-rate mortgage or vice versa. This regret is inherently tied in with No. 6—a great mortgage broker will always be able to match you with the right products.
4. Wishing they lived in a different community. This is why I spend extra time troubleshooting with my buyers, making sure they understand the pros and cons of each community around the lake.
3. Wishing they bought a different home. Though nearly 90% of buyers are very happy with their choice of property, there will unfortunately always be a minority who felt they made the wrong call. Again, this is precisely why I like to slow down the pace of the process with my buyers so that they can be as sure as humanly possible about one of the largest financial investments they’ll ever make. I’m willing to look at as many houses as they want because I truly want each client to feel satisfied with their next chapter of life.
2. Wishing they moved into their new home quicker. Sometimes this is possible and other times it’s simply not. In any quality offer, there are a lot of moving pieces besides prices; you have to think about inspections, earnest money, financing, and date of closing. In our low inventory environment where competition is high, you may have to appease the seller by sacrificing a speedy move if you want your offer to win.
1. Wishing they could have started their home search earlier. With us, this isn’t an issue because we have a phenomenal website that you can subscribe to if you want immediate notification of the latest listings that fit your pre-selected criteria. You can start looking as early as six months, a year, or two years in advance. We don’t have an agenda; we work for you, and your timetable.
For a thorough, painless, and regret-free home buying experience, give me a call or send an email. The Cisneros Realty Group is always here for you!