It’s an exciting time, you have made up your mind to become a homeowner and you start your search! As a first time home buyer, the process is much like a roller coaster. The excitement can turn to disappointment if your search tends to go a little longer than you expected to find your dream home. But don’t let it. First time home buyers should be aware of the reasonable expectations it takes to find a home, and sometimes what you see in your head isn’t what you find, but it can be even better.
There are about 4 emotions a first time home buyer experiences while looking for their home. They are – excitement, discouragement, doubt, and certainty, and they all happen in that very order. Even seasoned buyers experience these emotions, so don’t let the process upset your dream. When you start your search, you are excited. Your mind is full of all the possibilities of what you want and what you are looking to find. You go to see your first 3 or 4 homes, full of energy and you feel very much like a kid in a toy store. Oh the possibilities! As you dig into your search, you start to see that maybe what is in your head isn’t available in the market, or within your budget, and house after house, you continue to break down. Just because what you see in real life doesn’t match what you had envisioned, doesn’t mean its bad.
To avoid getting discouraged, work with your realtor to create a list of home expectations. What is important to you, what doesn’t really matter, and what your absolute “no ways”. These will help save time in the homes you search, and help you manage any feelings of discouragement when the home you went to see online is actually a 2 bed plus den, not a 3 bed. Or if the amenities gym in the high-rise building downtown doesn’t look like the pictures you had seen. Don’t leave feeling upset, your dream home is out there!
After a few months of searching, you have found the house! You put in an offer, the process officially begins and the contract is turned over to the attorneys for review. Over the next 2-4 weeks, the process of buying a home can cause most home buyers to start phase 3, they become doubtful. They get into into their heads, they over think, and they feel a feeling of buyers remorse. Its a natural feeling, heck, buying a home is a fun and a large investment! You start to get in your head, “Is this the home we really want?” “Could we have gotten a better deal?” “Do we really want to buy right now?” All of these are legit questions for a buyer in stage 3, and your realtor is your best advisor. A realtor knows of this lovely step 3, so their job is to keep you calm, cool, and collected buy offering reassurance, and positive reinforcement that keeps you out of your head. Stay focused on the objectives to why you started your search in the first place.
Now you are at the closing, you have your keys in hand, and you walk into your home! This house is now the most perfect house in the world to you. You have full confidence in your decision and there is nowhere else you would rather be. This fourth stage is certainty. All doubts are long gone, and you are living the dream! A sense of pride and accomplishment overcome all other senses and a new chapter of your life is about to begin.
Every single buyer experiences these 4 stages of buying a home. If you are not aware, the downfalls could delay or even stop the search for your dream home. Don’t let that happen. Just know its a part of the process, so trust it. Stay informed, educate yourself about the market, understand your finances, and know your breaking points so you can sail forward into your new home in no time!