When you sign a purchase agreement on a new home, you
will almost certainly feel an incredibly intense attack of panic and anxiety.
Did I pay too much? Is it really the right one? How can I ever pay the enormous
mortgage payments? How can I get out of it? This response-- called "Buyer's
Remorse"--is completely normal!
When you feel such anxiety coming on, call your friends who have owned a
home for a few years. Are they bothered by rapidly escalating prices? Not at
all! That means the value of their home is going up, too. While their mortgage
payments seemed high at first, they are now probably less than renting a smaller
home. There is also the pride of ownership as improvements are made to the
property. Did they feel anxious when they first signed the agreement? They felt
just as anxious as you feel, but they are really glad that they went through
with it. When you experience "buyer's panic"--hang in there--you will
be glad you did!