Home buyer’s remorse is very real, but can be avoided when you’ve done your research. Lake Homes Realty’s CEO, Glenn Phillips, introduces five factors to consider before purchasing your lake home to prevent buyer’s remorse!
- Relying on Appearances: This can lead to miscommunication and disappointment. For example, the placement of a fence isn’t always a great identifier of a property line.
- Assuming HOA Rules: The rules of every lake association differ per lake, so it’s important to stay updated on the current rules in place.
- Assuming Shoreline Usage: These rules also differ per lake. Just because you see others with a pier or dock, doesn’t mean you have the right to build one.
- Ignoring Flood Insurance: Flood insurance should not be ignored or taken lightly. The benefits outweigh the cost, but you must take the added expense into account.
- Grossly Overpaying: The market is extremely hot right now, but that doesn’t mean you should pay extreme prices because of the rising demand.
You should have the confidence to buy your dream lake home with no regrets. Buyer’s remorse can be prevented when you know what you’re getting yourself into. Do your research!