Buyer's Remorse

Buyer's remorse is a phenomenon that happens shortly after a buyer makes a home purchase. It is more often present in first-time home buyers in the time shortly after they close on the home or sign the final mortgage documents. Buyer's remorse is an overwhelming feeling of emotion in regard to the event. Buyers will finally see and feel that the purchase is a real, tangible thing. Though they want the home and they made the decision to purchase the home, they will begin to feel as if they have made a mistake. This is a largely irrational emotion to the purchase process. Buyer's remorse may cause people to make statements that they otherwise do not mean in the course of the process. It only lasts for a short period, though, so the process will not generally get held up on the basis of buyer's remorse alone.