Buying a home

Overcoming Anxieties When You Buy a Home in Ohio: Here’s How to Cope

Nervous about buying a home? Call us today and we'll ease your anxieties! (614) 451-6616

When you buy a home, it is a lot like getting married: Your stomach’s all butterflies as you make the offer; then you’re over the moon once it’s accepted. Only then, as you take those slow, winding steps toward the big day (aka closing), completely different butterflies may settle in the pit of your gut: Holy crap, this is a huge commitment. Did I make the right choice?

We understand. Suffering a case of cold feet over an impending home purchase is remarkably commonplace. And it doesn’t necessarily mean there’s anything wrong or that you shouldn’t follow through. Odds are, your mind is just reeling with a lot of “what-ifs” that can feel downright paralyzing.

How to Silence Those Ceaseless Questions When you Buy a Home

‘What if I can’t afford my monthly payments?’

Don't overthink it! Call us today and we'll help you with your cold feet! (614) 451-6616This is a concern for just about everyone—but especially among people who are buying at the top of their budget, says Sarah Jones, CEO and co-owner of Texas-based Bamboo Realty. If you’re worried about the costs of homeownership, sit down with your loan officer or a financial adviser and review the numbers.

You’ll want to calculate the total cost of owning the home—not just your mortgage payments but also taxes, utilities, homeowners insurance, and any HOA or condominium dues. Then compare that amount to your combined household income.

As a general rule of thumb, your housing costs should be no more than 28% of your gross income. But don’t panic if your ratio is a tad higher; your financial planner may be able to help you create a monthly budget that works for you.

‘What if I overpaid?’

When assessing whether you might have overpaid for a property, it’s essential to consider the level of competition you faced from other buyers. In a multiple-offer situation, it’s common to bid at or above the listing price to secure the property.

To address concerns about overpaying, real estate agent Sarah Jones takes her buyer clients through comparable properties they had reviewed before making the offer. She rarely advises clients to make an offer substantially higher than what the comparative market analysis showed.

Additionally, if you need a home mortgage to make the purchase, your offer typically includes an appraisal contingency required by the lender. A third-party appraiser assesses the property’s value, and if the appraisal comes in lower than the purchase price, the lender will only approve a loan up to the lower amount. This situation leaves you with the choice of covering the remaining costs out of pocket or walking away from the deal.

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‘What if a better property comes on the market after I buy a home?’

During the spring home-buying season, which typically sees a higher inventory on the market, many people tend to second-guess their choices, according to Judy Weiniger, broker associate, and CEO at Weiniger Group in Warren, NJ. It’s a valid concern, especially if you’ve only seen a few properties before making an offer on a home. However, when faced with such concerns, real estate agent Sarah Jones helps her clients gain perspective.

Jones reminds them that they have already looked at hundreds of homes online before finding the one they fell in love with. She believes buyers often underestimate the effort they put into their search. If you find yourself worried about missing out on your dream home, Jones advises self-reflection. Consider how happy you are with the home you’re buying on a scale of 1 to 10. If it rates an 8 or higher, you can feel confident that you’re making a good purchase. Remember, finding the perfect home can take time, and it’s okay not to find a “perfect 10” right away.

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‘What if prices tank after I buy a home?’

This is a valid concern, given how fresh the housing crisis of 2008 still feels. And, granted, “we never know what tomorrow will bring,” Weiniger concedes. However, this is typically only an issue if you plan to own the home for one to two years, since the housing market may not have bounced back by the time you sell. But if you plan to own the property for at least five years, you’ll likely live there long enough to regain any equity that you may have lost after purchasing the home.

‘What if I underestimated how much work this house needs?’

You may have uncovered more issues during the home inspection than you predicted, particularly if you’re buying a fixer-upper. Still, that doesn’t mean you have to tackle all repairs at once. Instead, use your home inspection report to assess what areas of the house require immediate attention (and money) and what areas qualify as remodeling projects. Then, consider whether you’re up to the challenge. And bear in mind: You don’t need to tackle everything at once.

Working with Sell for 1 Percent as Buyers Agents in Ohio

When it comes to buying a home in Ohio, working with Sell for 1 Percent as your buyer’s agent can provide you with a competitive advantage. With over 50+ years of combined real estate experience, our team is well equipped to help you find and negotiate the best deal for your new home. We understand the concerns and uncertainties that may arise during the home-buying process and will guide you through every step with confidence and expertise. Let us be your trusted partner in securing the home of your dreams in Ohio.

Let us get you to the closing table, all your anxieties will melt away! Call us today! (614) 451-6616Buying a home is an emotional journey—the excitement of making an offer and the thrill of acceptance followed by second-guessing and doubt. Cold feet over a home purchase is common, but it doesn’t mean you should back out. To ease your concerns, address each worry individually. Calculate your total homeownership costs, consult a real estate agent for competitive insights, and consider the long-term benefits of owning a property. If you’re content with your choice, trust that you’re making the right decision. Additionally, if you’re buying in Ohio, working with Sell for 1 Percent as your buyer’s agent can provide expertise and confidence throughout the process. With their 50+ years of experience, they’ll help you secure the home of your dreams and negotiate the best deal possible. Trust their guidance and expertise as you embark on this significant investment.

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About Sell for 1 Percent

In business since 2019 the concept of Sell for 1 Percent Realtors is to provide the highest quality of real estate service at a fair price. Our co-founder has been doing real estate since 1998 and our goal is to provide you with the very same service (full service) as we have done for 24 years and nearly 4000 homes sold. The whole idea is not to provide less service for less commission, we want to provide you with more service than you could ever expect for a fair commission, a commission that allows you to keep more of your homes equity (money) in your pocket instead of giving it away to your favorite real estate agent just because we have a license to sell. . . Or could it be called a license to steal. . . You be the judge!