People navigating a hot market often make snap decisions that can quickly morph into buyers’ remorse.
HomeLight’s “2022 Buyer and Seller Insights Report” (https://homelightblog.wpengine.com/wp-content/uploads/2022/03/HomeLight-Buyer-Seller-Insights-2022.pdf) outlined some of the compromises people made to get a house and the regrets they’re now living with.
Here are three common regrets and ways to help your pressured clients avoid them.
Overpaying – Have a candid discussion about what they can afford and speak about the ways a big mortgage can short-circuit other goals – retirement savings, travel, and hobbies.
Underestimating the total cost of homeownership – Talk about home operation costs – insurance, utilities, and maintenance – and strategies for reducing them.
Underestimating home maintenance – During showings, highlight the high-maintenance features, including pools, long driveways (think winter plowing), elaborate gardens, and expansive lawns that will require extra time and money.