5 Most Common Fears Buyers Face

By, Lisa Roberts

There are many reasons people decide to buy a new home. Perhaps your growing family now requires a home that can house a larger family, so everyone has their own space. Or you need to relocate for a new job opportunity quickly. And just like there are reasons for purchasing a new home, home buyers also face many common fears. Most of these can be easily remedied, even if they seem unsolvable. Let's go through these five common fears home buyers face and possible solutions.

Common fear No 1: Interstate moving

Interstate moving can be very frightening. For instance, if you are moving from a state like Florida to California, there can be a lot of unexpected changes and differences in the real estate market. Another part of this fear can be the process of moving possessions so far. If you want to come here from the Sunshine State, hiring professional movers will make it much more manageable. 

Another reason that interstate moving can be one of the common fears home buyers face is the fact that it is a considerable change. Finding the right home so far away and be nerve-racking. Making any wrong decision can make adjusting to the new area much more challenging. The best and probably only way to deal with this fear is two "overcheck" everything. As the saying goes, "think twice before you cut". Make sure you have put your mind at ease over any details you are unsure of. And do this before any payments. 

Common fear No 2: Hidden issues

One of the worst common fears home buyers face is hidden maintenance issues. Buying a new home and finding out that you have to spend a lot of money on fixing or renovating can be really stressful. There are two good ways to get ahead of this problem.

Look around while you take the tour

The first way to ease your mind about hidden maintenance issues is to keep your eyes peeled during the tour. Pay attention to anything that might cause an issue and would need repairing. But also pay attention to anything that seems like it was recently renovated or renewed. It is enough to look at the cosmetic properties of these possible issues. What is essential in this process is to get a good idea of what kind of investment the potential property is. If you notice an old oven and problematic kitchen cabinetry, but you see a brand-new roof, you can be pretty sure that the home is worth it.

Hire help

It is important to realize that most homebuyers are not trained to find internal home issues. The best option for them is to hire a home inspector. This professional will review your potential new home and list all possible problems. They will also give you financial and budgeting advice, tell you whether the investment is even worth it and make a priority list of what you would need to fix first. 

Common fear No 3: Natural disasters

Many people moving to a natural disaster-prone area get understandably frightened at the thought of one occurring. Experts from Floridian moving companies such as Pro Movers Miami suggest that most people who decide to move here are most afraid of hurricanes. Even if you are moving from a state like California, prone to earthquakes and forest fires, facing an entirely new form of natural disaster can induce a lot of stress.

Specific regulations you can find online that most homes in natural disaster-prone areas should follow. You can check some of these, but most of them will require a professional house inspector. For instance, most California homes should have everything heavy secured to the wall and safety film installed on glass in the case of an earthquake. This is something you can quickly check. However, a major reason to hire a house inspector is for them to check whether certain walls are reinforced. The most important are the cripple wall, chimneys and masonry, and concrete walls.

The best way to reduce these fears is always to know you have a backup plan and security when it comes to surviving potential natural disasters.

Common fear No 4: First-time home buyers

While this might not be one common fear home buyers face, there is undoubtedly an arrangement of dreads that all first-time home buyers face. Most people who are in the situation of buying a home for the first time feel the most fear out of all home buyers. First-time home buyers usually feel extra pressure to check every last detail when buying a home not to make a mistake. What is important to realize is that, to a certain extent, this fear can be helpful.

The lack of experience people who are buying their home for the first time can be made up for with the extra pressure, which creates a more keen eye. Of course, letting this fear go overboard can also be harmful. It can stop some people from making a good decision just out of anxiety that they haven't checked thoroughly enough. There are certain rules of first-time home buying that can help the buyers who follow them. However, the best remedy for the lack of experience is to have an experienced person next to you. This can be a parent or a friend/colleague who has bought a home.

Common fear No5: Covering their mortgage

 Financial instability is not just one of the common fears home buyers face but the most common fear anyone faces. A change in expenses such as electricity and water can highly influence whether someone can cover the mortgage. Welcoming new family members or unexpected one-time expenditures such as medical bills can create such a change. The two main ways to insure yourself when it comes to this are:

•       Make a good game plan with your mortgage broker;
•       Start a savings account for a rainy day.

Most mortgage brokers can help you estimate your monthly expenses and what financing your new home will require. The most important thing is to make sure you find a good broker. Furthermore, your real estate agent will probably be able to connect you with a proper one if you ask.

A savings account can "save you" in a situation with large unexpected expenses. Putting aside little by little can help you always be sure that you will be able to cover a hard month.

Most of the common fears home buyers face are easily solvable

As you can see, all of these common fears home buyers face have a solution. What is important is for you to always remember that. Buying a new home is a big step, and you should do everything in your power to make it an enjoyable one for yourself. We wish you luck and stress-free house hunting.