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Abstract

really not the best way to buy a house.Especially, if you are buying your forever home.It can be hard for some people to visualize a room with their belongings in it when they are physically standing there, but trying to visualize rooms by just looking at a computer screen or phone is nearly impossible.You cannot get a “feel” for the property if you are not there.I’m hearing that the real estate market is starting to cool down a bit and there are some millennials that are suffering from buyers remorse.Hopefully, buyers remorse doesn’t result in bankruptcies and homelessness.Possibly caused from sticker shock after making a few payments and realizing that they bought more house than they can afford.<figure id="46ac"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/1*pFoUAZq1rIn6dSDjyq_C3g.jpeg"><figcaption>Image by <a href="https://pixabay.com/users/paulbr75-2938186/?utm_source=link-attribution&utm_medium=referral&utm_campaign=image&utm_content=2409004">Paul Brennan</a> from <a href="https://pixabay.com/?utm_source=link-attribution&utm_medium=referral&utm_campaign=image&utm_content=2409004">Pixabay</a></figcaption></figure>I sa

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w a survey stating that 64% of millennials ages 25–40 are regretful after buying a house so quickly, compared to 33% of baby boomers aged 50–75.Older buyers are not as unhappy as younger buyers. FOMO or fear of missing out drives younger people to make snap decisions.Besides over spending on a property, millennials are finding that there may be some home maintenance. Things break and need to be fixed or replaced. These folks may not have any extra money left for home maintenance.All home buyers should know that they will always have some form of maintenance on a house. The appliances may need updating.Interest rates are low right now, but home prices have soared, which can result in over paying for a property.Have you ever heard of being house poor?Location means different things to everyone. The neighborhood can feel different to you when you see it in person and not on a screen.Hopefully, if you are a new purchaser of a home, you are loving it. If not, you may be able to flip it while the market is still busy.And take a deep breath the next time you make a huge purchase and give yourself time to think everything through.</article></body>

Having A Place To Call Home

Home is everything

I had my house on the market during the summer of 2020. At the same time that I was trying to sell my home, I was also looking for another location for me.

The buying frenzy made it very hard to find anything, as so many listings sold just as they were listed.

I did find a property that had been on the market for a year and offered a lot of comfort, just what I need to regroup my life.

We have all heard the ridiculous stories about people buying houses sight unseen, based upon a few pictures on the internet.

A picture may be worth a thousand words, but the one thousandth and one word may be the most important. Viewing a video, taken by a realtor is really not the best way to buy a house.

Especially, if you are buying your forever home.

It can be hard for some people to visualize a room with their belongings in it when they are physically standing there, but trying to visualize rooms by just looking at a computer screen or phone is nearly impossible.

You cannot get a “feel” for the property if you are not there.

I’m hearing that the real estate market is starting to cool down a bit and there are some millennials that are suffering from buyers remorse.

Hopefully, buyers remorse doesn’t result in bankruptcies and homelessness.

Possibly caused from sticker shock after making a few payments and realizing that they bought more house than they can afford.

I saw a survey stating that 64% of millennials ages 25–40 are regretful after buying a house so quickly, compared to 33% of baby boomers aged 50–75.

Older buyers are not as unhappy as younger buyers. FOMO or fear of missing out drives younger people to make snap decisions.

Besides over spending on a property, millennials are finding that there may be some home maintenance. Things break and need to be fixed or replaced. These folks may not have any extra money left for home maintenance.

All home buyers should know that they will always have some form of maintenance on a house. The appliances may need updating.

Interest rates are low right now, but home prices have soared, which can result in over paying for a property.

Have you ever heard of being house poor?

Location means different things to everyone. The neighborhood can feel different to you when you see it in person and not on a screen.

Hopefully, if you are a new purchaser of a home, you are loving it. If not, you may be able to flip it while the market is still busy.

And take a deep breath the next time you make a huge purchase and give yourself time to think everything through.