Avoid Buyer’s Remorse: Top Five Questions to Ask Before Offering on a House

Avoid Buyer’s Remorse and Find the Right House for You

Buying a home is the biggest financial decision most of us will ever make. It’s natural to have doubts. In fact, it’s the only sane way to be. But how do we move past the doubts? At the end of the day, how do we decide whether to pull the trigger or pull the plug?

In this post, we’ll help you navigate through uncertainty by discussing the top five questions you should ask yourself before hitting send on your offer. Let’s dive in to a little Seattle home search soul search!

1. Does it meet 80% or more of my requirements?

When considering a home, it’s essential to have a clear list of your must-haves and deal-breakers. The truth is, there are no 100% perfect homes (even soulmates have warts). Here’s a good rule of thumb when deciding whether a home is worth offering on. Ask yourself, does this property meet at least 80% of my key requirements? A home that meets the majority of your needs will contribute to your long-term happiness. So, grab a pen, jot down your non-negotiables, and assess how this potential home matches up.

2. Does the house fit the lifestyle I want to live (finances included)?

Your home should be a reflection of your desired lifestyle. Consider your daily routine, hobbies, and future plans. Will the property accommodate your lifestyle needs? Additionally, don’t forget to evaluate the financial aspect. Can you comfortably afford the mortgage payments, property taxes, and other expenses associated with homeownership? Balancing your lifestyle aspirations with your budget is crucial for a happy and stress-free homeownership experience.

Want to get the most for your money? See what we had to say in our piece on How to Find a Deal in the Seattle real estate market.

3. Is there any price I would be happy to buy this home at?

In this market, you often have to go all in to win a home. For this reason, sometimes the question isn’t, “how much am I willing to pay for this house,” but, rather, “is there any price I would pay for it.” Sometimes you find a home you know should be great, or which seems like a good deal,  but something just doesn’t feel quite right. At that moment, ask yourself, “if money weren’t a factor, would I be happy to live in this home?” If the answer is no, then don’t offer! If the answer is yes, then you can move on to figuring out how much to actually offer on the home.

4. If I offer and don’t win, will I feel sadness or relief?

Bidding wars are common in our competitive real estate market. Even if you write an offer, there’s a real chance you might not win. With this in mind, if you’re vacillating on submitting an offer, ask yourself the following questions. If I offer on the house and I don’t win, will I feel a deep sense of disappointment? Or will I feel relief? Most people have an easier time answering this question than the more general, “should I offer on this home.” Your gut knows the answer to your Seattle Home Search Soul Search. Trust it. And trust us–we won’t steer you wrong!

5. Will I regret it if I don’t submit an offer?

The ultimate question. Regret is a powerful emotion, and it’s important to consider whether you’ll regret not submitting an offer on a particular property. If the thought of missing out on this opportunity will keep nagging at you, it might be a sign that you’re truly drawn to the home. Think of it as the inverse of homebuyer’s remorse. We humans are very good at predicting (when we’re honest with ourselves) which decisions we will ultimately regret. If you play the scenario forward, and you think you’ll regret it if you don’t offer–what if you could have won?–then offer! Life is too short for regrets.

***

Making an offer on a home is an exciting and nerve-wracking decision. By asking yourself these five soul-searching questions, you’ll gain clarity and confidence in your decision-making process. Remember, the Get Happy at Home team is here to guide you every step of the way, ensuring you find a home that brings you joy and contentment. Start your Seattle home search with us, today!

Have a question? We’re ready to help! Get in touch with us here.