Purchasing a house is a major commitment. There are many factors that go into the process of finding a new one. You’ve chosen a house in Detroit with the must-haves and might have made some compromises but how do you know you’ve made the correct choice?
When you pull into your driveway do you have a feeling that you wish you didn’t buy this home? Did you have a high pressure deadline when you made your decision? Did you really do enough looking around to see all the possibilities? Did you look at different areas or did you only look in one location? Do you find that your house is really too small to be functional? These are all signs that you have buyer’s remorse.
Doesn’t Fit Your Budget
Eating ramen noodles almost every night in order to pay the mortgage was not what you had in mind when you pictured yourself as a homeowner. Is the home more of a fixer-upper than you realized? Did you end up pouring more money into home improvement than you planned on? Maybe this house doesn’t allow for enough entertainment or savings as you hoped. Maybe your homeowner’s insurance was more expensive than you planned. These are all signs that this house doesn’t fit your budget and you are probably living in the wrong house.
Maybe the house does fit your budget but what about the neighborhood? Are you able to hear the tv over the neighbor’s loud music? Is there a lot more traffic going by your house than you realized? Does the train wake you up way too early every morning? Do you find yourself shopping in stores you don’t like because your favorite chain grocery store is too far away now? These are all signs that your neighborhood might be an issue and may be living in the wrong house.
Perhaps you are totally okay with the home purchase you can afford and love your neighborhood but you just noticed a crack along the floorboard near the front door. Maybe you dismiss it for the caulk shrinking and then a few months later it’s a little bit bigger. Are there foundation issues? Maybe there are new cracks by the windows or water stains on the ceiling. These are all little indicators that your house might have some structural problems. Also these are signs that you might be living in the wrong house.
How To Escape The Wrong House in Detroit?
Detroit and MI in general have plenty of cash buyers for houses in any condition. These buyers are a great option to get out of your wrong house ASAP but prepare yourself to accept less than retail price. They will save you a lot of time and hassle by taking the house off your hands. You might be able to restructure your mortgage or transfer loan to another lender. If you feel you’ve been intentionally misled by the seller or real estate agent you can file a lawsuit against them or the inspector if their report didn’t include the major structural issues (consult with your attorney). If now isn’t the right time to ditch the wrong house, perhaps renting a room/the house out might be a good idea and sell when the market is best.