Blog Buyer Preventing Buyer Remorse in a Competitive Market

Preventing Buyer Remorse in a Competitive Market

By Jessica LeDoux, June 20, 2022

In a competitive market, having frenzy take hold and light fire under a buyer’s decision making is a true risk. Not only does a low inventory market promote a sense of “there’s not enough” that can create a survival mode mentality, but it fosters an environment of uncertainty that can lead buyers down a “don’t want to, but feel like we have to” path. If buyers succumb to the frenzy or are not partnered with wise and stable counsel, this can manifest as buyers offering over what they can comfortably pay for a home, settling on areas of a home that don’t line up with their core values, and investing in inspections unnecessarily on a home that ultimately will not be the right fit. We try to instill a sense of empowerment and stability in the midst of uncertainty. The reality is that nothing is certain, but what we can control is how we respond. 
 
Here are a few simple tips: 
 
1. MAKE A LIST of the top three things you do not want to compromise on. There is no perfect house, but if you are able to hone in on the areas you are willing to compromise on and take the time to get in touch with your non-negotiables, this will make for a more empowered search and you will feel clearer on when to walk away. If you are buying a home with someone else, make these lists separately, then discuss where your lists overlaps and make a new list together. 
 
2. THE FINANCIAL GUT CHECK. This can be difficult because the reality of the market, your needs in a home, and your financial comfort all need to be considered and valued collectively. Taking the time to see if what you want in a home lines up with the reality of the market is step number one. There is nothing worse than chasing a unicorn to the point of disappointment months later. We will provide support as you test the waters and get a sense of what homes are within reach so you can make an educated decision for your life and financial future. If what you are seeing in the market at your price point lines up with your needs, we can move forward with realistic expectations and healthy boundaries around when (if ever) it makes sense to stretch your price point goals.
 
3. BUY LOCATION AND LAYOUT. Remodeling a kitchen is easier than moving a house. When we say “buy location,” we mean buy a home in a location you will be happy living in. Even if walkability is not one of your priorities, liking your neighborhood is important. This may seem obvious, but many people have fallen in love with homes in otherwise undesirable locations only to find themselves wanting to move a few years later. If you like where you live, you are buying longevity in the home. Simple as that. Of course, we need to balance this against your tolerance for home improvement, but the bottom line is paint can always come later. Likewise, it is much easier to change the cosmetics of a home than it is to change the layout. Look past the aesthetics to the fundamentals of a home’s layout to see whether it has the potential to meet your housing needs for years to come. 
 
There is a lot of news right now about the instability of the housing market. While the market will always fluctuate, if you buy a home that can adapt to your life long-term if needed (regardless of your short-term plans), your satisfaction with your home and investment has a greater chance of outliving any market volatility. 

Jessica LeDoux

Broker | OR

She/Her

JESSICA LEDOUX Licensed Broker Lead Buyers Agent Oregon is where Jessica’s heart lies. Born and raised in Portland, Jessica grew up in Concordia and bought her first home in North Portland in 1996. She was seduced by the front porch of a 1920’s bungalow and as a young 20 year old there were so many factors she did not know to take into consideration when choosing her home. After 5 years of restoring the home, it was time to move and the seed had been planted – her love of restoring homes was born. It took a few more projects and years for her to make the choice to enter Real Estate. In 2006 she got her license and set out to empower people with information and encourage inquiry beyond the basic needs in a home, which was something she wished was provided to her when she bought her first home. As her Real Estate career developed she found joy in helping buyers the most, which led her to specialize in buyer representation. Jessica loves helping buyers consider all angles, future needs, and possible roadblocks in a home. Her goal is to empower a buyer with choices and to consider the unchangeable elements of a home to better ensure many years of happiness in their new home. Buying right is the most important factor to protecting your investment and she takes this very seriously, which is why helping buyers eliminate homes in order to get to the right one is her top priority. She believes wholeheartedly in the power of investing in real estate. She brings this wealth of technical housing knowledge, intimate familiarity with the city, and investment experience to her counsel for homebuyers, but it is her commitment to buyer advocacy (and seeing the impact this has on people's lives) that most inspires her and has kept her engaged and in love with her job after all these years. Jenessa V.  Licensed Buyer Team Operations Manager jenessa@livingroomre.com  When I first joined our team in 2019 I had been feeling dispirited about real estate. I'd been a realtor for several years and had a strong desire to find increased meaning within an industry that didn't always reflect my values. The thing that kept me returning to real estate despite this was the zing of happiness I felt when I helped clients through the home-buying process and witnessed them on the other end having accomplished a dream or otherwise empowered. To me, the role of a realtor is one of stewardship. I am proud to be on this team because the level of informed honesty, ethical counsel, and all-around excellence we offer is truly unparalleled in this industry.  Working as the Operations Manager on our buyer team means I get to focus on all my favorite parts of the job. I'm hyper-attentive to detail and delight in tending to nuance; transparency and communication are critical. If you are at ease knowing the train is running smoothly and if I answer your questions (maybe even before you've thought of them), then I've done my job well. I'm an introspective person and I view my sensitivity as a strength. I enjoy listening and taking the time to thoughtfully respond so we can move through the home buying process with intention together. I think searching for a home is about identifying your fundamental values and assessing how the decision you make about where you live can best support the life you want to lead.  On the more personal side, when I'm not working I'm probably writing or thinking about language. Give me a stack of good books and I'm happy. I'm a creative thinker and a maker - I love great design and discovering new outlets for expression. I don't ever want to stop learning. Putting my hands in dirt is just about the most invigorating thing I can think of and my little garden is my sanctuary. I like to dance at home so free that it makes other people laugh. I love to sing. I freaking love my family. Karim Alaeddine | Operations | Principal Broker Licensed in OR | karim@livingroomre.com Kim Parmon | Lead Listing Agent | Principal Broker Licensed in Oregon | kim@livingroomre.com Andee Zeigler | Licensed Listing Team Operations Manager | andee@livingroomre.com Jenessa VanZutphen | Buyer Operations Manager | Licensed in Oregon | jenessa@livingroomre.com   
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  • T: 503-310-5816
  • Jessica@livingroomre.com

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