Have you ever felt remorse after selling your house or making your first expensive purchase causing you to feel a bit downcast or troubled? Don’t worry because you are not alone.
In fact, a lot of people go through this situation but this can be avoided with the right decisions and circumstances.
People often go through anxiety or a sense of regret when making a decision to sell their homes. This feeling of regret is known as seller’s remorse and often accompanies the result of a decision to sell a house without first considering all possible factors and options.
Many homeowners who have sold their homes did not just end up with a sense of seller’s remorse, but in fact, ended up with bigger problems such as lawsuits for backing out of a contract or getting less than what they expected.
Here are some common scenarios which commonly cause seller’s remorse and help homeowners anticipate and find ways to avoid it.
- Sellers were unable to get their asking price or realised they accepted too low an offer for their property.
- Sellers made a logical decision to downsize but then realised they need to let go of personal belongings such as bulky furniture which has been handed down through generations.
- Making an impulsive decision to move and later legally obligated to follow through with the sale.
- Being forced to sell for financial reasons, such as a medical emergency or an outstanding debt.
- Sellers are unable to find a new home that appeals to them as much as their last home did.
- Sellers leave behind so many memories in their old homes. They essentially built a life for themselves in the home and are leaving it behind –
Most of these situations can be avoidable, except for medical emergencies. But the key to not pressuring yourself into handing over your house to those eager to have it can be addressed by carefully considering all your options.
Simple: think things through
Your best-laid plans are the ones that you put your mind to. Make sure to weigh the pros and cons of selling your house.
Take time to consider all possible scenarios when you let go of the property. Are you making the right decision? Does the sale meet your price expectations? Did you discuss the plan to sell with other stakeholders such as your family or co-owners?
Seek advice from trustworthy and reliable real estate agents or investors who can provide you with the best options to sell your house and avoid seller’s remorse.