Questions That Pop In Homebuyer's Head But Should Not
It is only normal for doubt to creep into your mind right after you have bought something. Property investments are no exception. Often, a buyer starts wondering whether his decision to buy a property is right or not once the deal is completed. However, over-thinking might not be a good idea. You would have gone into a detailed study of all the aspects before you bought the property and therefore such feelings must be nipped in the bud.
Here are four questions that might pop into your head but must be dismissed immediately:
Did I rush it?
One waited for the right time to invest. One only decided to buy a property once prices had stabilised, developers were offering heavy discounts and authorities had slashed stamp duty charges. However, a buyer often ventures into a deal wondering whether by waiting a little longer he could have bagged a better price. Entertaining such doubts could trigger anxiety and may not be of any help. It is better to focus your energies on the new house.
Could I have got this for even less?
You heard your friend also bought a new house of a similar size and design but paid far less. Now, you feel like a fool. You, too, could have got it cheaper had you negotiated better. At a time like this, you might remind yourself to compare the two properties. Only because the configurations match does not mean the two properties are similar. Your apartment might be offering you a better connectivity or a better outside view. Property prices differ based a multitude of factors. You decided to invest in your present property after due diligence. There is no need to get into self-doubt about this.
Could I have bargained better?
This is another suspicion that creeps into a most home buyers' head, often after they through with negotiating. The seller reduced the initial price he quoted for the property and if only you showed a little less interest in the property, your friends tell you, he could have come down even further. You might be greatly mistaken here. Recent developments in India's real estate sector show even at a time when developers were struggling with heavy inventory stock, property prices did not see a free fall. They did offer several discounts but prices remained largely stable. There is only so much a seller would do in the world of property market. In fact, in your enthusiasm of hard bargaining, you might end up spoiling the deal.
Did I settle for too little?
Home buyer often wonder whether they could have waited a little longer, saved a bit more and invested in a better property. The answer is yes – with more money you can afford a better property. However, you did invest your money, which is, likely, growing. In case you want to sell you current house and buy a new one, the return on your investment would surely be bigger than what you could have expected from keeping your money into a saving account. And then, you are now enriched with the knowledge of property which will help you in your pursuit for betterment.