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As a potential first time buyer, my biggest fear would be having buyer's remorse after a closing. I would rather miss a good buy than risk buying something that will give me more trouble than convenience. If anyone has had your share of buyer's remorse, it would be really appreciated if you could share your experience with us. What has made you regret buying a house/apt.? ?
I've never had a buyer that had buyer's remorse. The reason is that if they aren't 100% solid we don't write up an offer.
I am not a fan of buyer's remorse. Either you are ready or you aren't. If you aren't...don't do it.
I've also never regretted any of my housing purchases. Now, there are times my husband curses the fixer we currently live in (we are gutting a 1960's home) but after each project he loves the house that much more and he gets excited for the next one.
If you have a lot of anxiety don't buy a house. Don't ever look at anything you can't afford. I think buyers that have remorse starting doing the champagne taste on a beer budget thing.
When I bought my first house in Downingtown PA.
I said I would never live in D-Town but saw I totally refurbed
2-plex/row home in what might be termed a 'working class' neighborhood
that I fell in love with. I was buying on one meager salary so I wanted
to be very sure of what I was getting into. So, before I put an offer in,
I sit on the street in my car and observe for a few friday and saturday
nites. It seemed OK so I put my offer in. In my naivete what I didnt
ask were how many renters lived on the street and how wacked the
locals were. It seems like the nites I was observing, maybe they were
in jail or something, because for me, it was like a different episode of
COPS going on out of each window !! Crazy stuff !!! We put it back up
in 10 months and actually made money on it. I didnt want bad karma to
come to me so I asked the new buyer "are you familiar with this neighborhood ?"
and she replied, "yes, I grew up around here"....OK, I feel a little better, but
a year later we ride by and a For Sale sign is up again.
My "buyer's remorse" probably doesn't apply to many people out there so no worries. Mine pertains to where we live. I love my house, I just know now that I shouldn't have bought in this city (or this state!). At the time we were feeling like we'd be "stuck" here for a while so we might as well buy. Well we've been in the house 3 years and are now looking seriously at moving out of state. I kind of wish we hadn't bought the house but only because I don't want to let it go now!
I think it was smart overall. We haven't been having to pay rent these 3 years (and if we had been we'd have paid much more than our mortgage payment)... and we might even make a little money on the sale, but I am attached to the house and wish we could take it with us. I always expected our first house to be a place we lived in for a LONG time.
As for the house though, I knew it was right. WE knew it was right after the first visit. There were all these other houses we'd seen and as soon as we saw this one we just knew it was "the one". Sounds corny but it was true.
My "buyer's remorse" probably doesn't apply to many people out there so no worries. Mine pertains to where we live. I love my house, I just know now that I shouldn't have bought in this city (or this state!). At the time we were feeling like we'd be "stuck" here for a while so we might as well buy. Well we've been in the house 3 years and are now looking seriously at moving out of state. I kind of wish we hadn't bought the house but only because I don't want to let it go now!
I think it was smart overall. We haven't been having to pay rent these 3 years (and if we had been we'd have paid much more than our mortgage payment)... and we might even make a little money on the sale, but I am attached to the house and wish we could take it with us. I always expected our first house to be a place we lived in for a LONG time.
As for the house though, I knew it was right. WE knew it was right after the first visit. There were all these other houses we'd seen and as soon as we saw this one we just knew it was "the one". Sounds corny but it was true.
Same with us.
Looked at many houses but fell in love with ours the minute we walked in.
We haven't regretted a single thing about buying our home
Fantastic neighborhood, extremely spacious, fantastic layout, gorgeous sunny private yard - we love it!!!!!!!!
I have never had "buyer's remorse" with any of the homes I have owned.
Location: Sometimes Maryland, sometimes NoVA. Depends on the day of the week
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My buyer's remorse simply has to do with buying in 2007 (5 months into a new job) and remodeling it for a 10-year stay, then 2.5 years later finally admitting I hate the job, hate the area, and need to move back where we came from. *sigh* In 2007, you couldn't touch a SFH in the county for under $300k. Yeah... not true anymore. But I'm sure I'm not the only one with 2007 buyer's remorse LOL
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I always expected our first house to be a place we lived in for a LONG time. 
