Fear of making The Wrong Decision can be the great immobilizer when it comes to buying real estate.
• Fear that this is “the wrong time” to buy has kept many would-be homeowners on the sidelines and unnecessarily out of equity-building markets.
• Fear of buying the “wrong real estate” can take many forms: fear of buying the wrong location to gain status or long-term value appreciation, the wrong size for family dynamics, the wrong price for financial security, or the wrong functionality for future family needs.
Regrets- manifestations of fear that can immobilize us when faced with big decisions- haunt us long after we make or defer the decision that created them. Be afraid to act and that failure to act may lead to regrets. Regrets about consequences of the delay, the resulting inertia, or the missed opportunity – regrets about what you wanted to do and what you should have done.
In real estate, buyers are faced with a series of big decisions involving often-unknown territory like downpayments, mortgages, real estate law, contracts, and life choices. Fear of making “The Wrong Decision” regarding any one or all of these issues is a common reaction. Real estate professionals work hard to keep fear in check for their buyers. Professionals aim to minimize or eliminate regrets – if buyers allow their real estate professional to help.
Head-off fear and regret by asking your real estate professional a lot of questions and listening to the answers. Using this informed approach when faced with “Big Decisions,” helps buyers avoid Four “Big Regrets”:
Written by: PG Wade