Imagine finding your dream home after months of looking only to find yourself unable to make an offer when it’s time to lay your cards on the table.
While most house hunters will jump at the opportunity to make an offer, there are many who just can’t bring themselves to do it – the ‘commitaphobes’.
Making an offer for a house, something often done with little apprehension in previous generations, is now plagued with concern and fear of making the wrong decisions.
Commitaphobes often find themselves asking ‘what if’ questions. What if I don’t like the home? What if you have to move for work? What if I can’t make my repayments?
David was terrified of buying his first home and freely admits he was scared of the commitment.
“Even though I knew I was ready to buy a house, the thought of committing myself to a property for the foreseeable future left me petrified. I just kept making excuses not to put in an offer.”
The process has recently been made more difficult for commitaphobes due to the current buyer’s market. Many feel there could be something better out there they may miss out on.
“I found a place that was perfect but I kept worrying that I might be making a mistake” says David.
“What if it dropped in value or I didn’t like the place in six months’ time?”
When it comes to making the leap into home ownership there are a few steps you can take to address your doubts and make submitting an offer less daunting.
Practice your repayments: calculate the potential repayments of your future loan and put aside that amount from your regular income. Practicing your repayments will make it easier to deal with the real thing when the time comes and give you confidence you can do it.
Talk to others in the know: speaking to someone who has been through the process of buying a house will help ease concerns and make you more comfortable taking the next step. Friends, forums and comparison sites can all help.
Speak to a mortgage broker: An Aussie broker will be able to guide you through the application process and help empower you to make the right move.
Do you have any tips for the commitaphobes out there? Let us know them!