Regret at a recent purchase is very common
Wondering whether you might have paid too much for something is an awful feeling!
Perhaps you had been searching for a while and been unsuccessful several times when making offers on other homes?
You might also be out of pocket by having to spend hundred of dollars on builders reports and on doing other necessary checks before making an offer via a Tender, Auction or Private Treaty.
Sometimes it is FOMO ( fear of missing out) that drives us and this has been a very real motivating factor of late during Covid-19 especially.
Buyer’s remorse is the sense of regret after having made a purchase. … Buyer’s remorse is thought to stem from cognitive dissonance, specifically post-decision dissonance, that arises when a person must make a difficult decision, such as a heavily invested purchase between two similarly appealing alternatives.
There will be many emotional elements at play usually. It could be something as innocent as a comment made by a friend during a get together…i.e
“Did you see XYZ sold for less down the street?”
For years marketing companies have tried to help people overcome buyers remorse by offering some sort of deal or discount coupon to entice the buyer to buy thinking they are getting a bargain.
It is not as easy to “not” get buyers remorse though when buying a house.
As soon as we move in, it might not quite look the same. All that lovely staged furniture is mostly now replaced with other normal lived in furniture. Or perhaps with the furniture removed you are inspecting an empty cold house before you move in and it looks a little tired now that it is empty.
Whatever the reason, it is quite normal to have buyers remorse.
Managing buyers remorse
Make a list of all the things that you can control;
For example – itemise the repairs needed along with the cost and put a time and budget in place to achieve them, whether it is re-carpeting or fixing a fence or painting a room.
Then start planning to do things one at a time.
Home ownership often consists of long term investment and planning.
Why not then instead of worrying, get excited about the prospect of owning and improving your home over the years to come.
You could get into the spirit of things by inviting some like minded friends and family over for a housewarming party.
You provide the snacks and ask them to bring a bottle and a plant.
A “bring a plant party” is a great way of getting to know and enjoy your new garden.
You might find your friends will love the idea of planting their plant gift to you in your garden making lasting memories.
Each plant should have a story attached to it, no matter how small. That way the memory is attached to the plant as you plant it together.
Herb gardens are great way of bringing out the best in people too.
Building a herb wall together is enjoyable – the enthusiasm you will share with your friends and family is bound to rub off on you and provide a happy relaxing space where anxious thoughts of buyers remorse are left behind.