Kicking your home-buyer's remorse to the curb

There are many questions that will cross your mind in the months and weeks leading up to the closing date on your new home. Did I choose the right location? Did I pay too much? Should I have waited out this hot market?

We’ve all heard of buyer’s remorse. Maybe it’s that canary yellow convertible that caught your eye at the car dealership, when you were there only to get an oil change. It could be that Florida timeshare that tempted you in the dead of winter. Or perhaps it’s, dare I say it, the home you just purchased. Gasp!

When it comes to buying a home, a little anxiety and even some doubt as to whether you’ve made the right decision is normal. It’s a big investment and a huge commitment – financial and emotional.

As the closing date drew near on my most recent home purchase, I was rightfully swept up in a whirlwind of excitement, anxiety and stress bordering on distress. First of all, my new house is more expensive. Second, it’s further away. Third, it’s a new community. (Well, not new new, but new to me.) While I was well aware of these factors when I made my offer – and I still consider it worth the trade-off – I couldn’t help those pangs of fear as I prepared for my move.

So, how to curb those niggling thoughts of “What if…” and “If only I...”? Here are three ways to leave the buyer’s remorse at the door:

1. Stop looking. You’ve had your eyes glued to the real estate listings for months now, and you’ve finally purchased your dream home. While it’s tough to go cold turkey, click “unsubscribe” on those realtor emails and move on to the next chapter of your life – the literal move. If you keep looking at listings, you’ll find something in a more convenient location, or at a cheaper price, or better in some way. Why are you torturing yourself? You were happy with your decision to buy when you made it, so stop looking for the bigger, better deal.

2. Stop listening. You’ve made your buying decision based on your needs and wants. You were confident with your purchase... until Uncle Joe tsk-tsked and dug up that newspaper article he’s been saving for you about the housing market crash that’s apparently coming next year. No one knows for certain what will happen in the future, but here’s one likely possibility: by sitting on the fence and waiting for “perfect market conditions,” you could miss out on a really great opportunity right now. Don’t be overcome by analysis paralysis. If the timing is right for you, go for it.

3. Stop worrying. You’ve done your homework, haven’t you? You’ve scoped out a variety of locations with a close look at the amenities (present or planned in the future), home types and prices. You’ve set a budget. You’ve been pre-approved at a mortgage interest rate and terms that you can afford. You’ve saved for a down payment and closing costs. You’ve got your team of professionals: realtor, home inspector, lawyer. What more could you have done? Buying a new home – especially for the first time – is stressful, but ask yourself if your fears are founded on facts, or just a common case of cold feet?

Nothing will ruin your home-buying happiness like having it engulfed in a wave of irrational fear. In your home purchase, as in life, regret nothing and enjoy every moment.