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  • FIRST POST
    • 9ja4life
    • By 9ja4life 19th Mar 17, 8:49 PM
    • 224Posts
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    9ja4life
    Buyer's remorse
    • #1
    • 19th Mar 17, 8:49 PM
    Buyer's remorse 19th Mar 17 at 8:49 PM
    Anyone felt as if they were making a mistake when buying their home? Did you go ahead? Does it go away?
    Can't put my finger on it but I really feel we're making a mistake buying the house we're currently purchasing. OH thinks otherwise as he just wants to get out of rented!
Page 1
    • glasgowdan
    • By glasgowdan 19th Mar 17, 8:58 PM
    • 2,195 Posts
    • 2,433 Thanks
    glasgowdan
    • #2
    • 19th Mar 17, 8:58 PM
    • #2
    • 19th Mar 17, 8:58 PM
    There are too many specifics for us to comment on your own situation, but I think the general feeling you describe is quite normal and due, in a large part, to nerves relating to the financial commitment.

    How will the mortgage payment compare to your rent each month? Is the location good for you both?
    • Mrs36
    • By Mrs36 19th Mar 17, 9:37 PM
    • 125 Posts
    • 203 Thanks
    Mrs36
    • #3
    • 19th Mar 17, 9:37 PM
    • #3
    • 19th Mar 17, 9:37 PM
    Absolutely normal to have reservations, as glasgowdan says, largely down to the financial commitment. I had something very similar recently, and questioned whether I was doing the right thing. I think it was largely down to the numbers involved and the fact that we were coming up to exchange (which obviously is the point of no return). If you are thinking you are making a mistake I would think about what it is you actually want and if the house meets your needs.

    Is there anything in particular you can put your finger on? Something about the house/area?
    • Chanes
    • By Chanes 19th Mar 17, 10:44 PM
    • 820 Posts
    • 504 Thanks
    Chanes
    • #4
    • 19th Mar 17, 10:44 PM
    • #4
    • 19th Mar 17, 10:44 PM
    Yes. Twice. Didn't buy the first house (and it cost us the survey and solicitor fees) because it felt wrong.

    Felt the same with the second but pressed on. That was two years ago and we are happy here now.

    I really think we would have been happy with the first one now too.

    Nothing wrong with nerves but make sure you have a reason you understand for having them.
    • Cakeguts
    • By Cakeguts 20th Mar 17, 12:14 AM
    • 2,274 Posts
    • 2,867 Thanks
    Cakeguts
    • #5
    • 20th Mar 17, 12:14 AM
    • #5
    • 20th Mar 17, 12:14 AM
    Anyone felt as if they were making a mistake when buying their home? Did you go ahead? Does it go away?
    Can't put my finger on it but I really feel we're making a mistake buying the house we're currently purchasing. OH thinks otherwise as he just wants to get out of rented!
    Originally posted by 9ja4life
    You are not going to get the perfect house there is always going to be a compromise. You don't have to live there forever just for now.
    • Crashy Time
    • By Crashy Time 20th Mar 17, 10:53 AM
    • 4,007 Posts
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    Crashy Time
    • #6
    • 20th Mar 17, 10:53 AM
    • #6
    • 20th Mar 17, 10:53 AM
    You are not going to get the perfect house there is always going to be a compromise. You don't have to live there forever just for now.
    Originally posted by Cakeguts

    You might have to if negative equity strikes?
    • GraceF125
    • By GraceF125 20th Mar 17, 11:15 AM
    • 17 Posts
    • 6 Thanks
    GraceF125
    • #7
    • 20th Mar 17, 11:15 AM
    • #7
    • 20th Mar 17, 11:15 AM
    Unless you're lucky enough to be able to afford to buy your dream house, then I think it's quite normal to have worries/doubts. We went for another viewing the other day on the one we're buying and I walked round thinking my god, what are we doing?!
    The one thing I personally wouldn't compromise on is location (unless you're not planning to stay long).
    • Worrierwalker
    • By Worrierwalker 20th Mar 17, 11:21 AM
    • 40 Posts
    • 175 Thanks
    Worrierwalker
    • #8
    • 20th Mar 17, 11:21 AM
    • #8
    • 20th Mar 17, 11:21 AM
    Actually being in the position of buying with all the hassle that goes with it can make you feel that way, but if you really love the house it will disappear when you get the keys and move in. If you don't love the house then rethink by all means, but take a step back and decide if it's the stress of buying or the house itself making you feel this way.
    • ReadingTim
    • By ReadingTim 20th Mar 17, 11:30 AM
    • 1,488 Posts
    • 2,103 Thanks
    ReadingTim
    • #9
    • 20th Mar 17, 11:30 AM
    • #9
    • 20th Mar 17, 11:30 AM
    I didn't doubt the wisdom of what I was doing during the process, but did have a huge sense of dread when I got the keys and walked into my new place: from that moment on, I knew I was committed to 30 years of mortgage payments, so I couldn't lose my job, get sacked etc without losing (in my mind) everything.

    Why do you feel being in rented is preferable to having your own place?
    • westernpromise
    • By westernpromise 20th Mar 17, 11:51 AM
    • 2,878 Posts
    • 3,369 Thanks
    westernpromise
    I knew I was committed to 30 years of mortgage payments, so I couldn't lose my job, get sacked etc without losing (in my mind) everything.
    Originally posted by ReadingTim
    If you continue to rent you're committed to a lot more than 30 years of rental payments. Add those up and you're looking at a lot more than a mortgage, they never end and you never own a thing.
    "I have a perfect credit score according to expedia"
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    • ReadingTim
    • By ReadingTim 20th Mar 17, 12:11 PM
    • 1,488 Posts
    • 2,103 Thanks
    ReadingTim
    If you continue to rent you're committed to a lot more than 30 years of rental payments. Add those up and you're looking at a lot more than a mortgage, they never end and you never own a thing.
    Originally posted by westernpromise
    I was living with my parents previously, so could be a little more relaxed about spells of unemployment. Your points are pertinent to the OP however, which was why I raised the question.
    • Out, Vile Jelly
    • By Out, Vile Jelly 20th Mar 17, 1:17 PM
    • 3,316 Posts
    • 10,757 Thanks
    Out, Vile Jelly
    I felt terrible misgivings at two points:

    - pressing "send" for the electronic transfer of my deposit to the solicitor. An alarming amount of money reduced to a slight depression of a plastic key.

    - walking through the door after completion and realising just how much work there was to do (probate sale so shabby old lady decor). My dad thought it was brilliant though, and wandered round chuckling to himself at all the "fun" DIY jobs he could amuse himself with..

    I think it's key to remind yourself that unless you are a zillionnaire who can buy swathes of land and design your own house, every place is going to involve some element of compromise. Very few people live in a "perfect" house.
    They are an EYESORES!!!!
    • csgohan4
    • By csgohan4 20th Mar 17, 1:44 PM
    • 3,366 Posts
    • 2,073 Thanks
    csgohan4
    I regret it all the time because I am paying. Now if it was mortgage free then no regrets.
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • cjdavies
    • By cjdavies 20th Mar 17, 2:14 PM
    • 2,197 Posts
    • 1,950 Thanks
    cjdavies
    Go with your gut, wish I did and never bothered with my house.
    • Tiners
    • By Tiners 20th Mar 17, 4:59 PM
    • 82 Posts
    • 90 Thanks
    Tiners
    Understandable in the current insane market bubble, people having to commit unprecedented proportions of income for unprecedented lengths of time.... you'd have to be abnormal or monumentally stupid to not have concerns and reservations about such a huge commitment.
    • cashbackproblems
    • By cashbackproblems 20th Mar 17, 5:04 PM
    • 1,627 Posts
    • 622 Thanks
    cashbackproblems
    I had doubts during the offer stage but now as I get closer to completion certainly have no doubts!


    Agreed I cant help feeling prices will fall over the coming years but im in a popular London commuter town
    • economic
    • By economic 20th Mar 17, 5:09 PM
    • 1,367 Posts
    • 617 Thanks
    economic
    Understandable in the current insane market bubble, people having to commit unprecedented proportions of income for unprecedented lengths of time.... you'd have to be abnormal or monumentally stupid to not have concerns and reservations about such a huge commitment.
    Originally posted by Tiners


    You'd be stupid to rent if you have the means to buy
    • 9ja4life
    • By 9ja4life 20th Mar 17, 9:13 PM
    • 224 Posts
    • 407 Thanks
    9ja4life
    I can't really place my finger on it but the more I think of it, it's the cost. It'll be our biggest purchase to date. We can afford it easily on one salary as we have a 39% deposit but I keep thinking we should look for something about 100k cheaper! Location is good. Edge of a very small village so rural with a pub and village school and about 10 minutes drive from a large town with shops, banks etc.
    Also, we have no family or friends here but it's where we're working for now...
    We are in rented cos we wanted to suss out the place before buying but also owned and have sold our Somerset property to finance this.
    Last time we bought a property, we were childfree and carefree first time buyers and I liked the property instantly. Couldn't wait to move in!


    Thanks everyone. Mulling over your answers. Gives me food for thought
    • 9ja4life
    • By 9ja4life 20th Mar 17, 9:17 PM
    • 224 Posts
    • 407 Thanks
    9ja4life
    Actually being in the position of buying with all the hassle that goes with it can make you feel that way, but if you really love the house it will disappear when you get the keys and move in. If you don't love the house then rethink by all means, but take a step back and decide if it's the stress of buying or the house itself making you feel this way.
    Originally posted by Worrierwalker

    You make a valid point. I'm so beyond stressed with the whole purchase. Our landlord issued us a section 21 which has run out but as we're in the middle of the buying process, he's letting us remain till we complete. We wouldn't have bought now if not because of the S21 so there's this sense of pressure and rush...
    • 9ja4life
    • By 9ja4life 20th Mar 17, 9:20 PM
    • 224 Posts
    • 407 Thanks
    9ja4life
    You might have to if negative equity strikes?
    Originally posted by Crashy Time

    No chance of that. We have a more than healthy deposit. Plus we'll live there for the next 12-15 years anyway
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