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What Caused You Buyer Remorse

Posted by neighborwilson (My Page) on
Tue, Mar 2, 10 at 20:24

What caused you buyer remorse?

I am looking at a home and want to be there for a long time so I am evauluating my options.


Follow-Up Postings:

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RE: What Caused You Buyer Remorse

Buyer's remorse is a natural rebound from making an emotional decision. There is no valid "cause" (but there will *ALWAYS* be emotional scapegoats.)

Cheers,
Dave


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RE: What Caused You Buyer Remorse

I've owned 7 homes and only have had buyer's remorse on one of those homes. The buyer's remorse was due to the quality of construction of the home. We knew the area and the school district we wanted to live in, but the only homes that fit all of our criteria for rooms, size, amenities and budget were "tract homes". The construction was so bad it made me cry, but I was coming from a custom home that was very well built. In hindsight we would have been better off skipping the builder's subdivision and purchasing a smaller well built home. We would have had to sacrifice some on size and amenities to get into the school district we wanted, but quality of the home would have been better.

But I learned a valuable lesson and will never compromise on the quality of the construction again.


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RE: What Caused You Buyer Remorse

We only buy homes that are at least 80+ years old, that are solid, and that we have thoroughly inspected by trained specialists. I've never had buyer's remorse; however, one home we owned caused my husband to have regrets and it was because the house was on a busier road than he liked.


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RE: What Caused You Buyer Remorse

Buyer's Remorse isn't the same as regreting that you bought a house;
Buyer's Remorse is that thing that happens after you make the offer & go home happy & go to bed & then you wake up in the middle of the night in a sweat, heart pounding, & you go, "What have I *done*??!!!"

It's panic, & it goes away.

Regretting you've bought the house is based on reason(s).

Maybe
the house is too close to a busy street,/shopping center/school (noisy),
there are too many rental units in the neighborhood,
the people next door raise yappy dogs or game roosters,
your ex-mother-in-law is the president of the homeowners association,
the home was built on a uranium dump,
something like that.


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RE: What Caused You Buyer Remorse

I love my house, but the one major thing I regret about it is the pool in the backyard. At the time, we thought it would be cool to have a pool, but it takes up the entire backyard, and we almost never use it. Add in the cost for upkeep, and it's really quite a waste. I will never buy a house with a pool again.

I imagine if we had kids, we might feel differently, but we don't.


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RE: What Caused You Buyer Remorse

Buyer's Remorse is that thing that happens after you make the offer & go home happy & go to bed & then you wake up in the middle of the night in a sweat, heart pounding, & you go, "What have I *done*??!!!"

I am sitting here LOL. You described what happened to me exactly after I signed the papers closing on our first house. I lay there hyperventilating and kept thinking thirty years? Thirty years? Well, that was thirty seven years, two marriages and many other houses ago.

I ended up liking that house very much. After that baptism by fire, I can't say I've ever had that feeling again when I've closed a deal, because I've been blessed enough I always had increasing equity in each subsequent house. It helps you sleep at night.


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RE: What Caused You Buyer Remorse

Only happened with the first house I bought - when I was naive and didn't know any better. House was on a somewhat busy street and had problems with water in the basement. Neither of these were apparent in the middle of the winter when we bought the house. With all the windows shut you didn't notice the traffic noise and water wasn't flowing into the basement when everything was frozen outside.

That was a long time ago though before home inspections were common. The wet basement thing would probably be detected now. Traffic noise is more of a personal thing - some people don't mind it.


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