Is your real estate decision not causing you mini panic attacks neither keeping you up all night? Good... or, maybe, something's wrong with you!
Buying or selling a house is a major move, and when you are bound to make such huge decision, you would normally feel unsure and have all these doubts and questions in mind:
"Am I paying too much?"
"Should I sell now or wait for the house to increase in value?"
"How much remodeling can I afford?"
"Is this the right neighborhood for my family?"
Trulia suggests these 5 tips to prevent real estate cold feet:
Know your budget
The most common cause of fear is not knowing, so strike that worry out by establishing your budget status and identifying future expenses. Ask the seller for their usual water, trash, and utility bills so you know what to expect. Also, don't forget to factor in cost for repairs and maintenance as well as less obvious expenses like lawn care and upkeep.
Have an honest assessment of your budget so you know which amenity or feature to keep or get rid of in terms of your paying capacity. By anticipating all your expenses, you can confidently welcome every paying period and know you have a budget allotted for each.
Keep real with your remodeling projects
Remodeling your house is a major undertaking - from collecting estimates, managing contractors, and having to live amidst sawdust and debris. While a remodeling project can be very tempting - especially if it will greatly enhance your home's value - you need to know how much you can handle.
If you haven't done any remodeling in the past, it would be wise to start off with a small project that you can learn from to take on a bigger project in the future. A remodeling can get tricky so avoid wasting time and money as mistakes are common if you do not know how to go about it.
Consider your family's needs
Choosing a new house doesn't only take meeting your budget, it also most importantly has to meet your family's needs. Does anyone need a soundproof room? How far is it from your children's school and to your office? Is there a place for dad's two big bikes and a toolshed?
You will feel more confident about your decision knowing that the new house has everything to help everyone easily settle in.
Speak your mind
When it comes to a real estate decision, disappointing your agent or anyone else should be the least of your concerns. It's you who will have to live or leave that house, so do not give in to any pressure of rushing into closing a deal. If something doesn't sit right, just politely and honestly speak your mind instead of regretting not expressing what you really think about the situation.
Separate emotion from reality
You might feel like your house should worth more, but the market will have to dictate that. The process takes rational market decisions and the fact that you have done a good job with the garden or that you DIY-installed that nice new deck are not considered.
What's the ballpark net of your sale after agent commissions, closing costs, and other fees? If you are not comfortable with the amount, either you hold the sale or adjust your expectations.
