How to Avoid Home Buyer's Remorse

Many home buyers look at potential houses through rose-colored glasses. They see potential to change the look of the house by painting, re-carpeting, or updating the kitchen and the bathrooms. Although, there are some things in a house that are much harder or impossible to change such as: structural updates and adding additional living space. Before you look at your first house, you should write out a list of things that must be part of the house your purchase. These "must have features" may include any of the following: garage, basement, or a certain amount of land. Although, you could build a garage, it would likely be very costly, where as a basement or a certain number of acres most likely could not be added to a house. Below is a list of common attributes that you may consider essential to your next home.

1. Square Footage - Although, an addition could be added or you could finish the basement for more livable space after you purchase a house, it would be much easier to purchase a house that already fits your needs.

2. Bedrooms - Once again, bedrooms could be added to some houses, if there is enough land available to add an addition or have a bedroom built in the basement, but it would be much easier and less expensive if the house had the bedrooms that you deem necessary.

3. Traffic - Do you have small children, or need to live in an area with little or no traffic. There is a huge difference between a busy street and living in a cul-de-sac.

4. Bathrooms - Depending on the size of your household, your family may require enough bathrooms to allow everyone to get ready for work and school.

5. Style of House - Do you prefer a ranch or a two-story dwelling? Possibly, depending on your age, family size, or a particular family member, a certain style house would best fit your needs.

6. Acreage - Have you dreamed of owning a lot of land? Do you want to build a pole barn or like to fish and hunt? Buying a house with the right amount of land may be an essential item in your home search.

7. Location - Do you have or do you intend to have children. If so, the school district may be a major factor in where you choose to live. If you are older, you may want to live by friends or family members, a library, senior center, or other amenities that would improve your standard of living.

Before you start your home search, you should decide on what features and amenities you must have in your new home. In addition to deciding on the "must have features" of a new home, it is in your best interest to complete a full loan pre-approval with a reputable bank or mortgage company. Prior to looking for a new home, you should be able to provide a pre-approval letter and discuss the "must have feature" of a new home with a professional real estate agent. The agent should be able to tell you, based on your buying power and the home features you desire in a house, what areas and cities you may be able to find your dream home in.

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