Buyer Anxiety – What if you lose the house or a better house becomes available?

Posted on January 16, 2009 
Filed Under Buying Your New Home, Valerie Zinger

Don’t be rushed into a purchase from which you cannot easily escape and don’t freeze from indecision. 

Yes, you have a little wiggle room to change your mind after you have made an offer.   You can possibly back out if the building inspector finds significant faults, if your banker will not give you a mortgage or if you do not sell your current house.  These three items are the usual conditions on a sale.  If, on the other hand, you cannot get a pen to an offer because there just maybe something better, time to reevaluate. 

These types of Buyers are two ends of the buying spectrum.  There are Buyers who find a house and that no other house except this specific house will do.  The other type are Buyers who find a great house but are sure that better ones will come along any time so they want to keep looking to make sure that they are getting the best house.  Both extremes make purchasing a home difficult.  Anxiety builds up and emotions become a significant part of the buying process. 

My advice to Buyers is to relax a bit.  For the first type of Buyer I want you to know that new listings become available daily.  While another house may not have the exact same features, it may have features that are as good or better.  Don’t panic yourself into buying a house.  For the second type of buyer, frozen by indecision, my advice is to determine what you really need, focus on getting your needs met and any additional benefits in the house are bonuses.

Spending money for a house is stressful.  Realize that you may become anxious but that you can mitigate this by working with a REALTOR® and being realistic about your needs and wants.

Photo credit:  Anxiety attack at the castle @ http://www.flickr.com/photos/cameronparkins/174920994/sizes/m/

Valerie Zinger ~ Ottawa, Canada ~ 613-723-5300 ~ vzinger@royallepage.ca

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