It’s a seller’s market. But let’s be honest: the low mortgage rates have also made it tempting for buyers. Millennials have been fueling the housing market, becoming first-time homebuyers. But not all are feeling like it’s home sweet home.
If buyer’s remorse is starting to creep in, there are options all homebuyers have, according to these tips from Forbes.
Start by calling your agent. Many of them keep track of interested buyers. Perhaps they can get back in touch with one of them and see if they’re still interested.
The next option: the market is still hot. You may be able to make a few quick improvements and sell it off yourself. Remember that if you resell quickly, It’s unlikely you’ll break even. Do the math and make sure you’re OK with the financial loss you’ll likely face.
Another option is to rent it, while you come up with another plan.
Experts say you should stop to think about why you’re feeling regret. If it’s that you can’t afford it, think about where you went wrong so history doesn’t repeat.
You should call your agent or an expert anyway so you don’t make another mistake in the process of trying to smooth over this one.