A: They say the best defense is a good offense. In the case of real estate regrets, I would have to agree wholeheartedly. Knowing potential pitfalls in advance will help to avoid them altogether.
Regrets on the short list for a seller are feelings of not achieving the highest sale price, not selling the home to the right party, and not investing in fresh paint, updates, and professional staging for an optimal return.
Buyers have a few more opportunities for that pit in the stomach feeling to happen. Not adhering to a budget, not fully considering commute times, not shopping for the right mortgage, choosing a property that does not match their needs, and procrastination are by far the most common regrets.
There are a few points in time when these thoughts and feelings of regret are likely to creep in. The first is right when your offer gets accepted. The thought might be, “Did I just overpay?”. Next, is when the final inspection contingency is removed. “Did the inspectors miss something?”. And the worst comes when you open the door for the first time. “Do I really want to live here?”.
These feelings are natural. My advice is not to avoid but rather anticipate these feelings and deploy a strategy that intercepts them. Perform your due diligence, believe in the data, and trust in yourself.