Buying a home is a huge decision. It comes with home buying fears and a bundle of nerves because who wouldn’t be nervous about the making the biggest investment of your life?
As a Real Estate Agent, I have come to understand that there are usually 3 fears when home buying:
1. Maintenance Costs
Particularly for first time home buyers, or people who aren’t buying a newly built home, there is probably going to be something you will be required to upgrade or replace. This is a normal responsibility for all buyers. Not always, but more often than not, you have to be prepared for some sweat equity.
Windows are a major investment in a home. Windows are really expensive. Home buyers fear that if they buy a house that needs such an expensive upgrade, they won’t be able to afford it. Or they won’t be able to afford anything else they want down the road.
2. Buyer's Remorse
To combat buyer’s remorse, ensure you have hired a team of real estate professionals that really understand what you need. Do not exceed your budget. Nothing will make a buyer feel worse than realizing they can’t go out for dinner with their friends because they have a mortgage payment coming up.
- Make sure you can qualify for your mortgage even if rates do go up
- Have a home inspection done
- Sleep on your decision
3. A Good Investment
Buyers always ask me “Do you think this home will hold its value in the next few years?” I’m always prepared to answer truthfully. If I don’t think the home holds value, trust me I will tell you. I will tell you that the home will be harder to sell because it’s a corner lot on a really busy street. It holds value, but a different kind of value.
Market conditions strongly affect the value of the property. Take Condos, for example right now, obviously, they have some worth because there is an abundance of them out there but they are less valuable because there are too many of them. Too much of the same thing is never good.
My advice to a home buyer who is worried about the investment is to keep upgrading and maintaining the property. Keep it clean, don’t damage the walls and replace the appliances when they need to be replaced. Make sure you maintain the integrity of the basement with good grading and redo the shingles if you need to. Those little fixes will go a long way on your resale.
I work very hard to ensure my clients are making strong investments, that they can afford the maintenance costs after the mortgage payment and that the home suits the demands of their lifestyle.
Contact Me!
If you have any questions regarding the purchase of a home, feel free to give me a call at (306) 552 7047 or use my online contact form below. I'm always happy to help!
Kelsey Smith Is Regina’s Choice
Choosing the right Realtor® is key to ensure a positive and successful real estate transaction. Kelsey Smith promises to deliver the education and time necessary to buy or sell your Regina home. Call 1-306-552-7047 and rest easy knowing you have made the right choice.