Dec 17, 2021
3 min read
Most modern-day home love stories go a little something like this: you scroll lots of beautiful listings on Boomin (or, as we like to call it, Boomscrolling). You view a good handful in real life. Then, something magical happens and you find ‘The One’ – a home to finally call your own. You gush to friends and family about it, and next, you’re envisioning all the summer barbecues and Christmas parties you’ll host.
But then you lose out. Maybe you put an offer on a house that was rejected. Maybe you were outbid on the dream home, or even worse, you were gazumped. Maybe the deal fell through because of an inspection fiasco. There are a number of reasons why your dream home got away, but there’s one thing you’re sure about: you’re back to square one.
Whatever the reason, here’s how to cope when your dream home gets away.
For some, losing out on a dream home is akin to a job loss. Allow yourself to go through the grieving process and feel everything. You’re mourning a lost dream and that stings. It’s okay to feel all the emotions, from disappointment, frustration and sadness.
Recovery after losing out on your dream home is twofold: 1) accept the fact that this home is no longer an option for you at this time, 2) allow yourself time to grieve.
So, this home purchase didn’t go perfectly. What can you do differently next time? Perhaps you waited too long to make an offer, made one too low or pinned all of your hopes and dreams on this one property from the start.
Try to take away some valuable lessons from this hiccup, such as reassessing your needs and wants. Perhaps you don’t need that many bedrooms or you want to continue looking in that hot neighbourhood or you need to stick more to your budget. With more specific goals, your next home-buying journey is set up to run smoothly.
Whatever happened, you’re now presented with an opportunity to take away what you’ve learnt about the process. Keep in mind that here’s how to make a successful offer on a house.
Although losing out on a house that captured your eye and heart hurts, there are many more exciting properties out there. Sooner or later, you’ll be able to get back on Boomin and test the waters again. And the truth is, there isn’t one dream home for everyone. There’s always a chance that you’ll find a better property at a better price down the road.
You may find that “the one that got away” fades from memory while browsing the many houses for sale that suit your needs.
Did you know that 32% of all sales agreed in the UK fall through? If you missed out on The One, all hope is not lost. With Boomin’s ChainMaker, you can register your interest in homes that are already under offer or sold subject to contract (SSTC). If a sale falls through, you can be the first in line to step in and buy.
We’ll level with you: there are no guarantees. We strongly recommend you keep looking in the meantime.
To see ChainMaker properties, start your search then toggle the switch at the top.