Getting Cold Feet? All The Concerns Buyers Have…And How To Ease Them

If you are currently in the home buying process, you can probably relate it a lot to dating. You figure out what you want and then you set out to find it. You of course have to do some searching to make sure you find your right fit. A search that is bound to get some great laughs, and some headaches, throughout the process. Once you find the ideal home for sale in Lake Tahoe, you may feel like you are making the leap from dating to marriage. After all, you make an offer, hope it gets accepted and then sign on the dotted line. Of course on closing day, you may find that you get some cold feet. This is a huge financial investment that comes with a lot of “What Ifs?” So what can you do to calm your nerves and proceed forward with confidence? Check out these great tips.

‘What if I can’t afford the monthly mortgage payments?’

This is a common concern for everyone! The best way to ease this stressful thought is by meeting with your loan officer to crunch the numbers. The mortgage payment is only one aspect. You will need to factor in utilities, insurance, taxes and any dues that may be applicable. Once all of these have been totaled up, compare the amount to your household income. Housing should only eat up 28% of your gross income. If it is a little higher than you originally planned, do not panic. A little higher than the 28% rule is ok.

‘What if the house needs more work than I realize?’

Home inspections can be scary. They can potentially uncover some issues you didn’t plan on repairing. If some things popped up that you don’t want to deal with, don’t panic just yet. Some of the repairs can be negotiated before closing. Whatever is left over doesn’t have to be handled all at once. Use the inspection report findings to determine what needs fixed immediately and what doesn’t.

‘Did if I overpay?’

In a seller’s market, this is a very normal question to ask yourself when buying Lake Tahoe real estate. After all, you likely had some competition from other buyers. In a multi bid scenario, you have to come in at the highest offer in order to get the home for sale in South Lake Tahoe. This doesn’t mean you overpaid. In fact, it means you likely still got the home at market value. First you need to understand that most South Lake Tahoe realtors will not advise you to make an outrageously high offer right off the bat. Second, if you are buying the home with a home loan, the bank will require an appraisal. If the appraisal comes in lower, the bank will fund that amount. This gives you the option to either cover the gap with your own funds, or walk away from the deal. Unless of course the seller is willing to accept a lower price.

‘What if home prices drop after I buy?’

As the 2008 housing crisis is still very fresh in everyone’s minds, it is understandable that someone would be hesitant to buy a home for sale in South Lake Tahoe. This type of issue would only be a real concern if you were only planning on living in the home for a couple of years. If you are looking to own the property for years to come, then don’t worry about South Lake Tahoe home prices.

‘What if something better comes along?’

Give yourself credit for all of the online searching you did before you even hit the streets. It is normal to question whether or not you could be missing out on a better home. Especially if you feel like you are settling to get a better price or be in the neighborhood you want. Just remember, the home is now yours which means you can make it into what you want it to be.

If you have any other South Lake Tahoe real estate questions or concerns, feel free to call me at (888) 827-8957.


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