Buying a house can be a source of tremendous stress for many. It’s extremely common to feel overwhelmed and nervous about specific aspects of the process. Luckily, there are some answers to the scariest questions to help ease your mind. Here are some of the biggest homebuying fears and what to do about them:
Buyer’s remorse is an incredibly common feeling regardless of what you’re buying. Getting caught up in the excitement or stress of buying a home can lead to rash decisions. However, with homebuying, much of that anxiety goes away with time. Once you settle in to your new space and make it work for you, you’ll realize you made the right decision.
Offering a hefty down payment has its advantages. It can give you an advantage against other sellers and even get you lower mortgage rates. However, you don’t need to spend your entire savings on your down payment. The standard practice of 2 to 5 percent is more than suitable for most lenders. Also, there are down payment assistance options available for first-time homebuyers to help ease the upfront cost.
Unexpected financial burdens are difficult to deal with even when you don’t have an expensive monthly bill to pay. However, many lenders and third parties offer payment assistance options like refinancing, loan modification and loss mitigation options. Understanding the terms and rules of your mortgage agreement will also help soothe this anxiety, as you’ll know exactly how much time you have to pay your bill and other important details.
These are only a few of the common anxieties potential homebuyers face. With such an important and complicated life decision, there is bound to be stress involved. Remember these facts for a more comfortable process.
Kim Clark started her real estate career in 1999 and shortly thereafter obtained her Broker’s license in 2002. After working for larger, corporate offices, she realized that her business and clients needed a more personalized and flexible firm. She founded Bayside Realty Consultants in 2007 offering a space of unity, collaboration and encouragement for agents and their clients. Kim specializes in the unique Cape Cod market comprised of primary, vacation and investment properties.
She says "It is great to be a part of helping make a homeowner's dreams come true". Clients and their individual needs can make things very exciting! Kimberly's enthusiasm is contagious and it has been a real asset in her successful career. She says, "Never quit. Just do what you like and the rest just falls into place." She is certified in several real estate designations including GRI, CBR, CRS, e-Certified, and a certified trainer.
