Leave no room for buyer’s re­morse

Grocott's Mail - - ECONOMIX -

You can re­turn most things you buy if you dis­cover that they don’t fit or don’t work, but if you buy the wrong home, the chances are that you’ll be stuck with it for sev­eral years – or have to pay quite a price to cor­rect your mis­take.

Richard Gray, CEO of Har­courts Real Es­tate, says there are some tried-and-tested pre­ven­ta­tives for what is known in the real es­tate industry as “buyer’s re­morse”.

“You re­ally shouldn’t buy the first house you see. You need to feel sure that the home you’re buy­ing is good value and will meet your needs at this time of your life.

He says rea­sons that buy­ers may suf­fer re­morse in­clude not lik­ing the new neigh­bours, find­ing that their new home is too small, find­ing that their new home re­quires more work than they ex­pected and find­ing that their bond pay­ments put them un­der financial strain. Har­courts has the fol­low­ing ad­vice for prospec­tive buy­ers: • Think very care­fully about what you need from a prop- erty, and may need five or 10 years from now. • Dou­ble-check your fi­nances to make sure you can com­fort­ably af­ford the bond pay­ment and the other on­go­ing costs of home­own­er­ship. • Re­search the area in which you are think­ing of buy­ing. • Visit the home you are think­ing of buy­ing at dif­fer­ent times of the day and on dif­fer­ent days of the week. • Stay fo­cused on your pri­or­i­ties. – Copy sup­plied by Har­courts

Real Es­tate

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