After weeks of looking at homes, you finally found the one you loved. You put in an offer that you thought for sure would be accepted, but after a few days, you learned that your offer was declined. Now what do you do?
Losing out on your dream home can be heartbreaking. In today's competitive market, some sellers are receiving 10+ offers on their home. This can be pretty hard to compete with as a buyer.
If you find yourself in this situation, know that you are not alone. Buyers all over the country are experiencing the heartbreak of losing out on their dream home. Its devastating, but there are ways to move past this.
Understand that it's okay to be upset
Don't let anybody tell you that this isn't a big deal. You have every right to be upset that you lost out on the home of your dreams. You might have already been planning in your head where youd place the furniture, or what color you were going to paint the walls. Its okay to feel down in the dumps for a little while, but just know that things will get better.
Change your mindset & set new goals
There are always lessons learned after every heartbreak. Now is a great opportunity to reevaluate what you are truly looking for in a home. You found what you thought was your dream home, but another buyer got it - why was that? Do you need to adjust your budget? Do you need to take a second look at your wants vs. must-haves?
Have an honest discussion with your Realtor about what your needs are, and why you may have lost out on the first offer. At this point, you can set new goals that are more specific and attainable. There are more homes out there for you to fall in love with!
Hit "refresh" & start your search again
We live and we learn, right? You'll eventually have to move on from the "one that got away". You're now in a situation where you know what you want and how much you are willing to spend, but understand that not every listing is going to be like the one you lost.
Although buying a home is an emotional process, it is also a financial investment. Get back into the house-hunting game and be prepared to make the first move when you find the right home. The only thing worse than losing out on your dream home, is losing out on it twice.
For more real estate tips, please visit www.clhomes.com/blogs.
How to Move on From the "Home That Got Away"
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Crye-Leike Commercial Broker Jaime Henson Awarded Newcomer of the Year by Memphis Area Association of REALTORS