Tips for Home Buyers: Buyer’s Remorse?
(Cartoon courtesy Slate Magazine)
This post is not about all those people who bought when the market was high and now regret it. We’ve heard enough about them. This post is for those buying now…
Remember back when I posted about “Just Chill Out for a Minute” before buying a house? Well, in that post, I suggested objectively evaluating the purchase and pausing before making a decision. I recommended writing down what was really important to you and any limitations you had (i.e. $$$), and then using this list as “evaluation criteria”. So, now that your in your new abode and are freaking out (i.e. “what the heck did I just do?!”), pull out your “evaluation criteria”. Remember that you made the decision to buy this house based on all the information available to you. You did your due diligence in making an informed decision and didn’t do anything drastic. If it’s just your emotions getting to you (i.e. your house is not actually condemned), just calm down… and have that “I can do it” attitude. Besides, no one likes a whiner.
Now if you didn’t follow my advice and you jumped into buying a house that you just “fell in love” with, go rent the movie “Money Pit” starring Tom Hanks and Shelley Long. If you have buyer’s remorse, you deserve it. However, feeling like an idiot is not going to get you anywhere. Focus on what you can do, not what you could’ve done.
What if you found mold, termites, or some other ungodly horror? Now, these are serious reasons to have buyer’s remorse. What can you do? Well, you may be able to go after the buyer (or even the inspector, believe it or not). However, it’s tricky. Sellers are required to disclose any problems that they are aware of. A seller is not held liable if the problem was not known to them. And proving that they were aware of such a problem is difficult. Don’t bother with the agent… they’re not responsible for the condition of the home (check out “Can you sue your realtor for fraud?“). As for suing your inspector, it’s pretty hard, too. It’s just like the sellers, if they didn’t know about it (or you can’t prove that they did know about it), they’re clean. If you’re really teed off, then you can hire a lawyer to send a letter asking for a settlement from the sellers. You never know, they just might bite in fear of being sued. And, then, yes, you can always sue them. Just don’t be frivolous (one of my biggest pet peeves!). Houses will have problems… whether you were swindled into buying it or not is the question.
What about the “small” stuff? What can you do? Here’s a list of solutions to some common problems apparent after move-in:
- Loud noises (street, dogs, neighbors)… buy upgraded sound-proof windows or buy a white-noise maker.
- Lingering stench (previous owners still with you in scent?)… steam clean carpets and drapes as well as a good cleaning of the air ducts. Quick relief… air out the place (fans/windows open), scented candles, and Febreeze (I prefer the ALL brand scent).
- Nudist neighbors (or other unsightly decor or behavior)… taller fence. Cheaper fix: attach lattice to the top of the existing fence, maybe even weave a vine through it.
- Crime (keep hearing sirens down the block?)… stick on some alarm stickers (or get the real thing), get to know the old retired folks that hang out on their porches (ask them to keep an eye on your place while your gone), take some self-defense courses to empower yourself.
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