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While buying a home might be one of the most exciting things that can happen in someone’s life, it can also be one of the most stressful. And one of the most unfortunate feelings a homebuyer can experience is regret, often called “homebuyer’s remorse” or “homebuyer regret.” The process can become so overwhelming that many wish they’d never bought a home at all. 

Common Causes of Homebuyer Remorse 

Fortunately, buyer’s regret is entirely avoidable. If you arm yourself with the knowledge and understanding of what causes homebuyers’ remorse, you can take the necessary steps to avoid it. The most common causes of homebuyer regret are: 

  • Spending more money than you expected. Unfortunately, if you aren’t familiar with the real estate and mortgage industry, you might be surprised by how much money it takes to close on a home. That’s why it’s so important to work with a professional, like a trusted Jacksonville mortgage broker. 
  • Buying a home in a neighborhood not suitable for you or your family. This type of regret could be caused by a poor relationship with neighbors, local crime statistics, or public school systems. Either way, the home doesn’t feel like a proper fit. 
  • Wishing you had bought a “better” home or a home more to your liking. This type of regret can be as simple as not liking the backyard or worrying that the house is too small and won’t meet your growing family’s needs. Some homeowners wish they had waited for the right place to pop up rather than buying “impulsively.” 

3 Tips for How to Avoid Homebuyer Regret 

Avoiding homebuyer’s remorse isn’t simple, but it can be much easier than you’d think. Here are three tips that will help prevent homebuyer regret. 

  1. Create a Budget

First, you need to create a budget. In this budget, you should account for all costs that may come up during the home buying process, including closing costs, property taxes, insurance, HOA (Homeowner’s Association) fees, and maintenance costs. Your budget will help you calculate how much money you have at your disposal, limit your options to homes you can afford, and help your Jacksonville mortgage broker and real estate team give you the best possible service. 

  1. Build a Wish List

You should also build a wish list, categorizing each item on your list as either a “need” or “want.” Fill your “need” category with features that you would consider must-haves, including the number of bedrooms, number of bathrooms, backyard preferences, appliances, etc. Then fill your “want” category with features you want but don’t necessarily need. This distinction will give your team a better idea of what you’re looking for and enable them to help you find the home of your dreams. 

  1.  Choose the Right Mortgage Broker

Avoiding homebuyer regret begins and ends with choosing the right Jacksonville mortgage broker. And the reason for that is relatively straightforward. 

The right mortgage broker can help you set a realistic budget, connect you with trusted professionals in the industry (real estate agents, contractors, etc.), and help you understand mortgage programs, loan types, hidden costs, and more. They allow you to establish a bottom line and help you stick to it, and that kind of support is invaluable. 

Speak to a Jacksonville Mortgage Broker Today! 

Here at Atlantic Trust Mortgage, we specialize in preparing individuals for one of the most important decisions they’ll ever make. If you work with the right team, there’s no need to experience homebuyer regret. Contact us today to speak one-on-one with one of our expert Jacksonville mortgage brokers.  

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