Common Buyer Fears

Whether you are a first time home buyer or someone who is looking to move up or down, getting into the market can be a fearful time.

Here are some of the most common buyer fears:

Do I have enough money to buy a home?

To first step to finding out how much home you can truly afford is to get pre-qualified for a mortgage. Also, take a step back and look at your finances. Be sure that you have enough money leftover after the purchase to keep your life running smoothly.

Will I have buyer's remorse?

There is no such thing as the perfect house, so you should prepare yourself for some mild feelings of "what if". You may have to give up a few "wants" to get a few "needs" when you buy your next home. Or if this is your first purchase, you may have to buy something a little short of your dream house, and build equity in order to move up at a later date.

How can an unhandy owner handle repairs?

Be prepared for repairs, maintenance, and updates. Even with a new home, there will be projects. Plan accordingly financially. And if all else fails, hire a professional.

What if I need to move?

Experts recommends that to build equity, you need to have owned your home for at least 3 to 5 years. The NAR recommends, "Look at your annual mortgage statement or call your lender to find out.