Just went unconditional on a $735k townhouse—how do I stop buyer’s remorse?

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BezoLeafRetro

New Member
How do you deal with buyer's remorse? We just went unconditional on our home purchase: $735k, middle-ring townhouse, 3 bed, 1.5 bath, in a south-east Brisbane suburb.
 
I mean, I bought a 4bdr 1 bath 3 yrs ago for 600k. Rotting patio, carport, dilapidated shed. Had to put in easily, I’d say, 160k tbh. For new patio, roof, carport, shed. Fix plumbing + some electrical. Do up 3 bdr, reno the laundry from one of those tiny sink & chipboard things that’s literally crumbling. Holes in walls & doors. Had to rip up pavers & build a deck. And I’m a solid 50min drive from the city . Jut work at it bit by bit. I’ve cursed the previous owners so many times .
 
It happens most of the times when you make a big decision of your life.

Happened with me even when I was upsizing and had to sell my house.

But the best thing to do is so your research before hand, pay local agents to apprise or order a professional valuation from online agents like PropCred..

This should comfort you in time of self doubt..

All the best
 
Put your big boy pants on. Forget it. Continue with life.

I bought a house in Bidwill (literally the shittest suburb in Sydney) for 620k in 2017. Thought I bought the top of the housing boom. I did.

But almost 10 years later, it's worth $1.3M. Agents ring monthly. Asking if I'm interested in selling.

Same will happen to you. Ride it out.
 
That's a pretty fair price, considering they're $800K+ for a 3 bedroom in Rothwell, which is outer ring. Also, there's no point worrying about it unless you're going to flip it. Otherwise, just set and forget, then check back in a year before the Olympics.
 
What a great question I used to get it all the time, but haven’t for ages!

For me, the angst was less about the quality of the purchase and more about the quality of my decision, so I worked on that!

No impulse buys lots of research, lots of consideration of alternatives, opportunity costs, and unintended consequences. Sometimes just mentally, but for big things I talk it out with someone else or gt it down on paper.

By the time I pull the trigger, I’m confident that I’m making the best decision with the information available at the time, so there’s nothing to ruminate on!

Despite this, sometimes the purchase turns out to be less than optimal, but I don’t beat myself up over it. The decision at the time was good, and now I just need to make another decision on how to best move forward and make mental notes on what I can do better next time.

There aren’t too many purchases that are catastrophic even if it was a bad decision, learn from it and move on! Don’t fall for the sunk cost fallacy and pour good money after bad; if it’s a bad purchase, get rid of it!

Good spending also takes practice, particularly if you focus all your energy on getting good at saving! Work the muscle, apply the process to less critical buys, so when you get to the big stuff, it comes naturally!
 
It’s a normal feeling when just going unconditional on any property.
Being in the middle ring of Brisbane, I think you will be fine.
Soon, people will say they wish they bought when you did.
 
You didn’t actually spend 735k.

You traded a commitment to forgo a set amount of income for a period at least until it revalues upwards to refinance out your deposit.

This usually coincides with the point in time that rental income nearly covers that commitment.

Technically, the deal was to buy NOTHING but get shelter for zero cost cumulatively over a five year contract.

Time to look for a way too maximise your income so you can do it AGAIN!
 
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