How to Avoid Buyer’s Remorse When It Comes to Your New Home

8th October, 2021

In this two-minute read, we look at avoiding regret when it comes to buying or renting a new home.

We’ve all had it – that gnawing sense of buyer’s remorse when we’ve made a purchase.

It could be the make of that new car you’ve ordered. Or the colour of that dress that looked good online, but will it have a wow factor when the delivery driver drops it off?

Or something as simple as ordering a dish in a restaurant that you suddenly wish you hadn’t as your friend’s requested meal sounds infinitely more appetising.

On a more serious (and expensive note), according to research by insurance company Aviva, over a quarter of people who bought a home during the pandemic now have some regret linked to it.

It was either the cost, location, or the property itself that created the nagging feelings of doubt.

The good news is the risk of buyer’s or renter’s remorse can be reduced by following these nine simple steps.

  1. Have a realistic budget and stick to it.
  2. Work out what you want from a home and what you actually need.
  3. Think ahead, will this home be providing what you need in five years’ time?
  4. Consider all the moving costs like removals, storage, legal fees etc.
  5. Consider any commute time, transport links, and even broadband speeds.
  6. Research the area if it’s new to you. The steps below are worth following.
  7. Consider speaking with people who already live in the area you’re looking at. If you’re brave enough, knocking on doors in the neighbourhood and asking direct questions can be priceless and very revealing.
  8. Jump on social media and ask in Facebook (other social networks are available) community groups what the area is like to live in.
  9. Speak to us. As local property experts, we’ll give you an honest opinion on areas and the types of property you’re interested in.

And remember, it’s natural to have second thoughts about something as big as moving home – so don’t beat yourself up about it. But by taking a little more time and applying some more research, you’ll be more confident and comfortable about moving.