Home Buying Fears and How to Face Them

Jeff Peterson
Jeff Peterson
Published on October 16, 2015

Buying a home can be a scary thing. This type of purchase involves a long term commitment of everything from maintenance to financial. Home buyers often are wary that they will purchase the wrong house and be stuck with an investment not worth their money. However, the issues of most home buying fears, there’s often plenty that can be done to alleviate the all too common fears you might experience when purchasing your new home.

Structural Issues 

One common problem in real estate is a cracked foundation, leaky roof, or dry rot. With issues like these, a good inspector will be able to point all of this out for you and then you can assess the problem as necessary. One of the most common home buying fears are buyers not being able to determine if the house needs a lot of repair.  An inspector is very useful in that he or she is hired to point out every issue with the house, to the prospective buyer. So don’t let the inspector slack and make sure you ask plenty of questions as it is their job to answer them. When you do ask the inspector questions, ask for an explanation on the type of issue and when the repair or replacement must be taken care of. This will alleviate a lot of home buying fears for most people.  Finally if and potentially when an issue arises, you should go back to the seller and ask if they will credit you back to repair after the deal closes.  It is ok if  don’t know anyone who is a home inspector.  I have one that I really like, is inexpensive, and gives fantastic reports!

Your Deposit

Another common home buying fear is the fact that the deposit may sometimes be locked in without the signatures of both parties. However, remember that it is nearly impossible for the deposit to be lost. If an inspection, loan contingencies or disclosure review is done, make sure you work closely with me – your agent, to mark the time frames. If the contingencies need to be removed be sure to finish establishing every thing at least a day in advance. In order to calm another home buying fear, if you find that you are in negotiations around the date, make sure to extend the contingency date so that you will stay under contract and the protection it affords. Another thing you should do is find out how the selling agent intends to handle the offers received. Sometimes an agent will accept the first offer when it’s a good one and usually the seller will have a date to review any offers by a certain day. Whenever you are out of town or busy, be sure to stay in contact with me – your agent, so that you will not miss out on your dream home as it may disappear from the market while you are traveling or unable to correspond during work.  This is actually a reasonable home buying fear.  I’ve seen many people lose out on a home they love due to not committing in time.  It is important to understand the type of market we are in.

My Agent Doesn’t Have My Best Interests In Mind

Another concern some buyers have is that their agent does not consider their best interests when conducting real estate transactions. This simply is not true! Good agents are always keeping an eye on the market with your best interests in mind. If you have doubts and feel that your agent is not on the same page, discuss this with your agent.  If there doesn’t seem to be a reasonable remedy, ask your agent/broker for a release so that you can switch to a different agent/broker that you feel more comfortable with. A common home buying fear with agents is that so many people use their uncle, sister, or best friend from college that just got their license.  It is a nice jester to want to help them launch their real estate career but this is YOUR investment and it should be handled by a professional with years of experience. Both you and your agent should have a mutual commitment to one another and you should sit down before you start the process and speak with the agent you choose in the same way you would in a job interview.

We Wont Find The Right House In Time

Another home buying fear is that buyers are concerned that they will not find the right house soon enough. Purchase an home involves thousands and thousands of dollars so this decision should not be rushed. If you have some sort of time constraint, make sure you have a backup plan. If a school application deadline or expiring lease is a factor, be sure that you have a Plan B if things do not go according to plan A. This will take the pressure off. Purchasing a new home is not only an extreme investment but also complicated. You never want to rush into making a decision, as a mistake can hurt you in the long rung; so be thorough. Sometimes a home buying fear is to find temporary housing.  It’s safer to rent in the meantime or to use a temporary address while you try to find what will be your best choice in the long run. Sacrifice the comfort in the short term to make sure you will be happy in the long term, you’ll be glad you did and this will help eliminate your home buying fears.

Whenever you have a concern or a home buying fear with the process or anyone involved in the process, don’t hesitate to speak up and go with your gut instinct. Avoid rushing and allow yourself to think things through.

I’ve been helping people buy and sell homes for over 14 years.  I have completed countless transactions and my experience his here to help you!  Also, it is important to note, if you are buying a home, YOU PAY ME NOTHING!!!  My fees are paid through the seller’s proceeds.  Therefore the home buying fear of having to pay a Realtor is non-existent.  Give me a call, I look forward to helping you!

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