How to Avoid Homebuyer’s Remorse in a Hot Market Here are a few tips for ensuring your home purchase is regret-free. Get to know the neighborhood Do some research on local schools. Even if you don’t have school-age children and don’t plan to, buying in the best school district you can afford is a smart move. Homes there hold their value better and are easier to resell. Consider other factors like crime rate, commute times, and distance to other things that are important to you like parks or restaurants. These things will have a big effect on how you feel about your new home once you are actually living in it. Be patient Even if things are moving quickly, make sure you take the time to examine the details, get a home inspection, and think about what you really want in your home. Keep an eye out for red flags and be okay with walking away if a home does not meet your standards. Buying a home is a huge financial decision, and not one that should be rushed! Remember your budget As home prices go up over time, you’re lowering the loan-to-value of your debt. You’re simultaneously increasing your equity, but your fixed-rate mortgage payments will stay the same. Work with experienced professionals
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Buying •
May 10, 2022
How to Avoid Homebuyer’s Remorse in a Hot Market
by Jimmy Humrich

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