Avoid Real Estate Regret

Posted by Betty Gales on Tuesday, February 18th, 2014 at 3:03pm.

A new Trulia report delineated some of the most common real estate regrets in the US. Some of those regrets are particularly common in the Charleston, South Carolina area. Here are ways to avoid these four common real estate regrets:


1. Get Realistic and Be Aggressive.

As the report explained, time is of the essence. The number one real estate regret revealed in the survey was rental regret: 42% of renters said they wished they had bought rather than rented their current home.

Buying a home is a process that takes time and diligent effort, but if you are motivated then you can successfully find a great home! Keep in mind that in today’s market if you are serious about buying then you have to make quick decisions and put in a contract quickly. In some neighborhoods you may even need to offer above the asking price. This is why it is critical to have a great agent working for you.


2. Buy a Home that Will Work for Your Household in the Future

34% of the buyers surveyed wished they had bought a larger house. When you start your house hunt make sure to think through what your needs and wants are. Envision your life in your new home and then choose a home that matches your vision. Keep in mind things like a growing family, aging parents, grown children moving back home, and even tenant possibilities. Think through the hobbies and activities that you enjoy and how those might affect your home choice. You want to find a home you will anticipate the inevitable changes that you might encounter.


3. Be Honest about Remodeling

27% of homeowners surveyed wished they had done more renovations before they moved in. It is often easy to become complacent with the way your home looks and to put off projects if you wait a long time. It becomes all too common to find yourself talking about remodels that you know will never happen. Of course there are exceptions, but generally the best time to do home improvements is before you move in! Then you can have a sure time-frame to get those upgrades completed. If that is not possible then you will want to consider setting a concrete plan and budget for any changes you want to make. If you have a plan you will be much more likely to complete the projects!

4. Ask More Questions!

Many homeowners wish they had more information about their home before they moved in. Often this information is available just not necessarily easy to find. While you have access to the previous owner be sure to ask questions about the HOA, neighborhood, and property history. Even if it seems boring, be sure to read through inspection reports and property disclosures. Listen to your agent if they point out any possible concerns. If you need to order additional inspections or repairs, the best time is before you purchase the house! You want to know what to expect on move-in day.

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