Conquer the Blues after Buying or Selling A Home

From on May 15, 2008 in General

We’ve all heard of buyer’s remorse, but did you know that seller’s remorse exists also? I’m sure at some point in your life you have experienced or will experience one or the other. Buyer’s remorse comes to pass when you feel you’ve made a poor purchasing decision. Perhaps you paid too much for the home, the payment is more than you can handle, or you discover there is far more work needed than you expected. Maybe it is something to do with the neighborhood. Whatever the case, once you have signed those papers, all you can do is deal with the situation the best that you can. One way to overcome this remorse is to make a plan. Work with a contractor or realtor, and inspect each area of the house. Create a list of improvements needed, obtain estimates, and listen to advice from your realtor as to where to prioritize your renovations. Although this won’t solve the problem of getting in over your head, it will give you hope and help you to gradually improve the situation. Seller’s remorse is much different, and harder to remedy. This condition can occur both when you discover you have sold the home for less than its current or potential value, or when you realize how attached you are to the home. You can either move on and try to recreate your favorite home, or watch for an opportunity to repurchase the one you let get away. An important rule to remember is never make an emotional decision. If you are recovering from a form of remorse, all you can do is learn from your experiences, move on, and try again. It never pays to dwell on the past and those things you can do nothing to change.