If you’re watching mortgage trends moving weekly around the 6-7% mark, and feeling anxious about the cost of a new apartment or house, that’s perfectly okay.
Buying real estate is an emotional business. You’re about to make one of the biggest financial decisions of your life
These are some of the typical feelings buyers are likely to experience
Uncertainty
This is common when you’re poised to make a big decision. Crunch the numbers to help ease this anxiety. If the math makes sense, then so does your decision.
Nervous
Many folks worry about talking to a bank loan officer or mortgage broker. Mostly, they’re worried about hearing the word “no” and having plans derail. So, prepare thoroughly for the encounter. Get your down payment savings as high as possible and ensure your credit score is in good shape. Avoid job-hopping and pay off as much debt as possible.
Super-excited
It’s hard to not become excited when you find a perfect property that’s in your price range. However, try not to fall too deeply in love until you’ve bought it. You’ll find plenty of buyers just as excited and willing to outbid you.
Disappointment
This feeling can be almost overwhelming when you can’t negotiate a deal, or someone has snatched victory from you. Don’t be too disheartened if this happens. Honestly, it’s okay. There are other homes out there just as good. We’ll find one.
Exhaustion
If you’ve been home-hunting every weekend for the past six months, burn-out could set in. It’s at this moment you can make a bad decision. If you’re feeling drained, restrict yourself to open houses or take a break for a couple of weeks.
Anxiety
After your offer is accepted, it’s natural to be anxious that nothing goes wrong with a building inspection or your loan application. Again, this is normal. Don’t be afraid to discuss any fears with your agent or mortgage broker, as they will be able to ease your anxiety.
Happy
You won the deal! You’ve got the keys! You should be happy! It’s this emotion that makes everything else totally worth it.