Buyer’s remorse is common, but you can’t let it ruin your home purchase.
With the incredibly competitive nature of today’s market, many buyers are having to go above and beyond to get their offers accepted. After finally being able to secure a home, though, some people are experiencing a hefty amount of buyer’s remorse.
In San Diego, buyers write an average of six offers before one is accepted. That knowledge should make you feel better if you’re struggling in our market, but you may still be wanting to call off the deal. I heavily advise against this: If you are feeling buyer’s remorse, do not cancel escrow. You’ll be right back where you began, and you’ll be missing out on the incredible home appreciation we’ve been seeing.
“If you have already found the home of your dreams, don’t make the mistake of backing out.”
Homes purchased in November 2020 have already gained 5% to 10% in value. Due to the high cost of building materials, low interest rates, and incredibly low inventory, these rising prices are likely to continue. If you buy now, you’ll have anywhere from 10% to 20% equity in your home within a few years. So, if you have already found the home of your dreams, don’t make the mistake of backing out.
If you have any questions about our market or would like more information, feel free to reach out to me. I look forward to hearing from you soon.
