Too Scared To Buy A Home In Ascension Parish

There are 5 top fears that home buyers have when buying a home that can cripple them from even making a home purchase at all. I will cover some of the biggest fears that home buyers face and show you how to overcome those home purchasing fears so you won’t be too scared to buy a home. These are the top Five Home Buying Fears we will cover:

Fear Of Value Loss

If you saw the collapsing home values of 2007-2009 you saw many families and homes that go into foreclosure making homes in neighborhoods plummet as fast as they went up in value, in some areas it went lower than the boom and took years to recover, so the fear of losing value in your home is real.

So how do you combat this fear, When working with clients that have this fear I ask them to pick a home they like in their budget, this doesn’t have to be the exact home they are  purchasing just one can use as an example, and I make a full report showing them the properties value since the big housing crisis of 2007 where the home value dipped and what the home value is now, In our area of Baton Rouge it’s clear to see that anyone who bought a home during that time and was able to hold on to it since then has gained a significant amount of money and this hold true for many other areas around the country.

You can ask your real estate professional for reports like these on any home you are interested in so you know you are making a smart financial decision.

➡️The 5 Home Buying Fears Covered In The Video Time Stamps

➡️Fear Of Value Loss0:52

➡️Fear Of Buying a Money Suck2:51

➡️Fear of Buying When You Could Get a Better Deal5:01

➡️Fear Of Mortgages & Mortgage Payments- 6:28

➡️Fear of Buying Won’t Be As Safe As Renting- 7:52

Fear Of Buying a Money Suck

Some people see shows on HGTV of buying a great foreclosure or auction home and flipping into a home o6f their dreams but that’s after the investors sunk into a whole lot of money with unforeseen issues prior to purchasing the home. Getting a great deal on a home usually means you will be purchasing a fixer-upper in one-way shape or form. Whether it’s just some new paint and carpet or adding a new roof and fixing foundation issues.

If you are thinking of purchasing a home like this but are scared of the costs there are few things you must do prior to signing on the dotted line,

1. Make sure you have at least a 10 day inspection period so you will have enough time for the next two things I am going to tell you will need to do.

2. Hire an inspector to go through the home with a fine tooth comb have them review the report with you at the property so you can see for yourself the issues they found,

3. Find a couple of very good general contractors with lots of reviews and previous customers and have them meet you at the property to give you an estimate of the cost of repairs. ( Don’t go cheap with your contractor sometimes cheap contractors equals cheap looking work)

h4. once you have your bids in hand estimate an extra 10% for unforeseen issues or problems that might pop up.)

Fear of Buying When You Could Get a Better Deal-

This is one that has crippled some buyers. Years ago I worked with a couple who would go from house to house putting in purchase agreements well below asking price hoping that the sellers would take their offer.  8 months and 14 purchase offers later they got stuck in a situation that forced them to buy a brand new home they weren’t really happy with but since their rental lease was up and the landlord was unwilling to extend there lease they had to buy “something” all the other homes they had lowballed were long gone.

I know everyone wants a deal, this is a great time to really have deep conversations with your real estate agent about the homes comparable value to others in the neighborhood. If the market is super hot you are most likely not going to be getting a lowball offer accepted but if you are in a market that sellers are willing to negotiate that it doesn’t hurt to test the waters. When you make an offer that’s below market value write in the offer how you came up with the sales price for the house, explain in great detail why you feel its worth that amount and not what the asking price is. I have used this to get offers accepted by sellers in the past even including repair estimates from companies to support the offer.

Fear Of Mortgages & Mortgage Payments-

Everyone has heard horror stories of people getting in way over there head and bought home that made them “house poor” where the homeowners could purchase the house and not much more than make house payments, or you may have heard about a mortgage package that could have saved you on making a large down payment after they have already purchased a home. Before you have mortgage remorse be sure to meet with several mortgage lenders and discuss all the loan packages that will fit not only for your best interest rates but also your monthly budget as well, make sure you factor in regular maintenance costs of your future home also renewals on termite contracts, HOA fees and extensions to home warranties if you chose to.

Fear of Buying won’t be as safe as renting-

Every housing market is different when it comes to the cost of renting in comparison to owning. Buying wins hands down here in Ascension Parish. Currently, you can buy a 3 bedroom 2 bathroom, 1300 square ft home for about $180,000 that’s less than 10 years old.

Mortgage Monthly cost maximum loan Mortgage amount

180,000$ Interest rate (%) 4.5 ,Mortgage period 30 (years)

Monthly payments

$912, taxes 900 a year, and insurance is about 800 a year= estimated at $1054.00

Now for comparison you take that house you would pay $1350 a month in rent, never gain equity over the years and your rent always goes up as a mortgage payment always stays the same.

?If you’d like some more tips on buying your next home check out my buying a home playlist here.

?If you don’t want to miss any tips on buying and selling your home so you don’t leave money on the table at a closing time click here

?To look for properties in the Baton Rouge and Ascension Parish area click here:

?To read my blog visit

CONTACT INFO:, eXp Realty LLC,2900 Westfork Dr. Suite 401, Baton Rouge LA 70817 225-246-1812,Office (225) 412-9982 ext# 149 Kristina Smallhorn is a licensed REALTOR® with the state of Louisiana, License #0912122918