The Top 4 Regrets of Real Estate

This post is going to reveal all the hidden costs when you’ve moved in, and sort of make you feel sorry for doing so. So let’s begin!

                When buying or renting, there always comes a point when “buyer’s remorse” sets in. We all have it, moving, buying, renting, and all the chaos that surrounds the process will sometimes leave a few stones unturned. If you’re the lucky one these stones won’t be unturned until you have every box unpacked and you are finally settled into your new home. Call it buyer’s remorse, second-guessing, or what have you, but this can be avoided if you know what you’re getting into before you take the new keys to your new home.

Where are we going to put all this?

                According to a Trulia.com survey, 52% of all homebuyers have at least, one regret about their new home, or the process they took to get it. The largest regret: wishing they had chosen a larger home. The most common complaint is there isn’t enough space to put all their belongings once they’ve unpacked. Older apartments and homes will probably lack in closet/storage space since our lifestyles have grown in the past 60 years.

                Look at the other hand too. The beautifully decorated home looked perfect with the scaled-down furniture, but now that you’ve moved in with all your giant new age furniture, the room looks a bit smaller now doesn’t it?     Nine months is usually when a young couple starts to regret moving into their first house.

We have no money left!

                A down payment isn’t the last time you’ll s[spend money on that house. Home buyers have to factor in the closing costs and all other expenses incurred to buy the house. Let’s begin with appraisal fees, loan application fees, loan broker fees, structural inspection fees, and so on. Once they’re added up and paid for, most first-time home buyers have spent way more than they had planned for.

                When you’re renting you need a butt load of cash for first and last month’s rent, as well as a security deposit. When you don’t plan for all these, you may find a zero balance in your check book.  

We didn’t talk to the neighbors before we moved in?

                Make sure you meet your neighbors before you move in. It happens more than one would think, but some neighbors can be an absolute nightmare. They will go to the bitter end to try and make your life miserable by keeping their dogs outside barking all night, or going out of their way to tick you off. Keeping track of your neighbors beforehand is a good way to avoid a bad situation.

We should have tested the commute

The American dream is a three bedroom house in the suburb, while the American nightmare is an hour-and-a-half commute to work every day. Do not forget to check the commute times to and from work when selecting a neighborhood. Long commutes have proven to negatively affect quality of life and happiness levels. Keep in mind all the transportation costs that will add up during the week/month/year.

 

There you have it, the forgotten costs of buying a new home. Now you know, so be ready to spend a lot more than you initially thought.

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