3 First Time Buyer Fears And How To Counter Them

Posted by Gurpreet Ghatehora on Sunday, July 8th, 2018 at 8:42am.

If you have worked with first time home buyers before you know that the process can be very confusing for them. Working with people who are buying their first home means that a lot of communication is necessary to make sure that they understand the process. But they will have questions. And fears. And that’s understandable because buying your first home is a very big purchase. For many people, it’s the first time in their lives that they are making a huge purchase and they will have fears that they will bring to you. Here’s how to counter the 3 most common fears that first time home buyers have:

Fear Of Not Getting The House They Want

First time home buyersOften when people decide to buy a house they get emotionally attached to a house they’ve seen online or a house they’ve only seen in person once. And when they put in their offer they think that they will be devasted if they can’t get that particular house. But as their agent, you need to make sure that they don’t get too emotionally attached to one house. That house that they love the look of so much might not even be the right home for them. Just because it has fancy finishings or a cute exterior doesn’t mean that the layout or the size or the price is right for them.

In order to lessen their fear and make sure they don’t get emotionally invested in one home keep showing them homes even after they have put in an offer on a house they think they love. By continually reminding them that there are more great houses on the market you are keeping them from getting too focused on just one home.

Fear Of A Huge Mortgage Payment

Many home buyers are afraid that a mortgage that seems reasonable will become unreasonable as time goes by. And that is a valid fear, considering that a mortgage cost can be a large chunk of their income. But you can counter this fear by making sure that the buyer understands the mortgage process and is very clear about what the cost of the mortgage is and what the monthly payment will be. You should also explain in detail about mortgage insurance and other fees so the buyer isn’t surprised by additional fees.

Fear Of Buying The Wrong House

First-time buyers are often afraid that they’re going to buy a house that doesn’t have what they need or won’t function the way they want. They can be afraid of buying too much house, or not enough house. In order to prevent this fear, you should constantly talk to them about their needs versus their wants when it comes to selecting a home. Keep them focused on what they need in a house now and what they will need in the future. 

Read more about living in Edmonton, AB, or Looking For Edmonton Real Estate Agent. contact us Gurpreet Ghatehora & Associates Remax River City Edmonton

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