Common Home Buyer Fears

Buying a house is a huge commitment and it’s natural to have some hesitations and nervousness. Today, I want to address some common home buyers fears and some fixes of how to best address them.
Fear #1- Being Locked into a Home you Don’t Want
Some buyers, especially first time home buyers, are wary of signing a contract on a home that they aren’t 100% sure of. They worry that they will have to buy the home even if they decide it isn’t a  good fit.
In all actuality, the Utah home buyer contract is VERY buyer friendly and gives the buyer ample time to back out of their contract with no repercussions. In fact, the due diligence period, typically ten days, is written into the beginning of the contract period so that you can inspect, walk through, and have professionals examine anything that worries you about the house to make sure it’s exactly what you want.
Fear #2- Losing Earnest Money
Putting a good chunk of money down on a home, knowing there’s a possibility you’ll never see it again if you don’t end up buying the house, may make you uneasy about writing a contract.
It’s very unusual to lose your earnest money. Though there are a very, very few situations where it is inevitable, generally, if you have a good agent who is checking all deadlines and keeps in touch during your contract, you aren’t going to lose your earnest money. Earnest money is only lost when you’ve passed your financing deadline and decide to walk away from the house, but as the financing deadline is one of the last things that happens before you actually sign closing papers, you have plenty of time to make sure that the house and the loan will work for you.
Fear #3-Home Maintenance
For those buying a home for the first time especially, it can be scary to know you are responsible if anything goes wrong on a home after you buy it.
Have a cushion of cash for potential home maintenance issues when you buy your house. Make sure to get a home warranty for the first year. This will cover any major appliances (think expensive problems like heat, air conditioning unit, etc.) that break during the first year. It gives you some time to adjust to being a home owner before taking over full responsibility over every issue. And remember, should something truly expensive go wrong in your home, you can have that covered with homeowner’s insurance!
My number one tip for you on buying your house is to not over-spend. Just because a bank will lend you enough money to buy an expensive house doesn’t mean you can afford it month to month. Make sure your mortgage amount is a comfortable price that will give you a cushion to pay for potential issues that may arise in your home. 
You can even practice ‘paying’ a mortgage for a few months to make sure it’s doable. For example, if your current mortgage/rent is $1200 right now and you’re looking to buy a house with a $2,000 mortgage, pay your regular $1200 and save $800 each month. If you find that too difficult to do, $2,000 is probably too high for you. Plus, if you go this route, you’ll have some extra money for a down payment when you finally do buy your home!
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