There seems to be a flicker of life in some regions as existing home sales, while still low, aren't falling as quickly as projected. People who can buy are bargain-hunting great real-estate deals, and that usually means more business for the local shrinks. Why? It's that syndrome that affects so many called "buyer's remorse."
"Even if your head, your accountant, your friends and family tell you this is a fantastic deal, it's natural to feel skittish because buying property is a major commitment," says Sandy Rodgers, a marriage and family counselor in Chicago. "The first thing to remember is buyer's remorse is normal; it's not just you."
So if you've signed the paperwork and you're starting to feel nauseous, what should you do besides bring your head down to your knees? Here are seven tips to keep remorse at bay.
Talk it out:
If you're buying the property with a spouse, significant other or a business partner, don't bottle up your feelings. "You can say, 'Maybe we should have talked about this last week, but I'm anxious about this deal, ' " says Rodgers. If you're buying it solo, talk to a friend or relative and get their take. You may not hear all the answers you want, but you'll likely be better off than if all the doubts were locked up in your head.
Write it out:
Spelling out what made you buy the property on one side of the paper and why it's a bad deal on the other side can help clarify the situation. Seeing that the positives outweigh the negatives often help turn the decision around for you.
That other house you were eyeing is still on the market, you probably could have picked it up for even less, maybe that street is better, and now you're stuck. If you're still looking at the homes you were shopping with longing feelings, you're setting yourself up for buyer's remorse. Stop looking at the multiple listing service and start thinking about what you're going to do to your new home.
There's no question that buying property is a stressful experience, even in today's buyer's market. Try planning a getaway weekend soon after the papers are signed to rejuvenate and refocus.
Call your realtor:
If you built a good working relationship with him or her, it's not a bad idea to call and discuss how you feel. Most agents have been trained to deal with situations like this, and they can help you through any doubts you may have about the property. There's an old adage that "you have to sell everything twice, the first time to make the sale, the second to take care of buyer's remorse," which a skilled real-estate pro can do.
It's not easy when you've got something on your mind, but lack of rest will just make you more anxious. Try working out more to use up some of that extra energy so you're too exhausted to think about houses when you go to bed.
Focus on where you want the flat-screen TV to hang or how you want to change the landscaping. Looking at how you want to personalize your new house will help move you from feeling anxious about the place to feeling that it's going to be your new home.