Attention St. Louis Buyers: Avoid Real Estate Regret
The second you decide to buy or sell your home you instantly feel your muscles tense and your stress levels rise. It is not going to be an easy process and you will have some hard decisions to make. But do not fear! You will be able to reduce the risk of making mistakes that will leave you with real estate regret if you take the time to thoughtfully answer these questions below.
- What is your budget? This should be one of the first questions you answer. There is no point looking at St. Louis homes until you figure out exactly what you can afford. Make sure you factor in all the extra expenses, such as tax, homeowner’s insurance, utilities, etc.
- Does the house meet the needs of everyone? If you have a family, then everyone likely has an opinion regarding what features the house should have. Make a list of elements that are important to everyone, and try to find a home everyone will be happy in.
- Are you being honest? A real estate transaction does not have to be the secretive event you are picturing. If you have concerns or you are unsure of how you feel about something don’t be afraid to ask questions and voice your opinion.
- Are you blindly following the advice of your real estate agent? Most agents are honest professionals. However, at the end of the day, their mission is to make a sale. If you blindly follow their advice and do what they recommend, you could end up disappointed in your decision.
- Are you getting emotional? You never want to buy a home you instantly fell in love with until you thoroughly look through it. It is easy to be blinded by a few standout features and forget all about the list of needs you made earlier. This applies to selling a home, too. Leave your emotions out of decisions.
- Did you get pre-approved? One of the smartest things you can do when buying a home is get pre-approved. Pre-qualification is not the same thing as getting pre-approved. Being pre-approved gives you a lot more negotiating power and it makes your bid more attractive to a seller because they will know closing is a sure thing.
You have probably heard of a number of real estate disasters through the years. As a result, you may be expecting the worst. It does not have to be like this. Let the answers to these questions help guide you in your decision and help you to avoid real estate regret.