I’ve put a deposit on a home. Now I have second thoughts. What should I do?

At 3 a.m. you awaken, worrying about whether you’ve made the right decision to buy a home.

You wonder if the home is too big or too small and whether you took enough time to explore the neighbourhood. You also wonder if you paid too much and what would happen if interest rates suddenly rise?

This is a typical reaction to buying a new home. It’s known as buyer’s remorse. Buying a home is the largest purchase you’ll likely make in your lifetime and one of your mist significant commitments. Buyer’s remorse can strike any homebuyer, whether they’ve bought their first or tenth home.

Contact your REALTOR® who will 

  • review your original requirements, including your “must have’s” and your “nice to have’s,” your options for neighbourhoods and type of home – single family, town home or condominium. 
  • review your financing and what you decided you could afford, the comparative market analysis on the home you selected and the report from the home inspector; and
  • ask you to list the benefits of your home purchase so you will know you’ve made the best decision for you and your family.

It may take a few more days but your buyer’s remorse will pass. Congratulations on your new home!