We all know it is a complex and challenging project to buy a home. The pressures of the situation can compound. In fact, one survey found that buying a home was rated more stress-inducing than any other life event.
The poll, conducted in 2018 by Homes.com, found that 2 in 5 people thought buying a home was more stressful than any other life experience. Ranked lower than homebuying were hosting a holiday dinner, interviewing for employment, and applying to college.
Buying a home is emotional for many people. Nearly half (44%) of the 2000 Americans polled said that buying a house made them feel nervous, while 1 in 3 said that the process had made them cry. Only 1 in 5 people said that they felt confident when buying a home, and nearly a third (28%) said that they were “heartbroken” by not getting a home they loved after making an offer.
Nearly two in five (38%) of those surveyed said that the process took longer than they had thought it would. The average person looked at six homes prior to deciding on one they wanted to purchase. Incredibly, though, 1 in 10 people said that they experienced buyer’s remorse. One of the reasons people feel that unsureness after making the transaction is, well, the money: 1 in 8 of those surveyed said they thought they had overpaid.
Lowering your stress when buying a home
MoneyTips offered three recommendations to help people lower their stress when buying a home:
- Have a clear goal. Having fully thought through what you want in a home will help keep you from letting your emotions get the better of you. Think about aspects of a property that would be deal-breakers, even if you like other features. Keep in mind everything you want, from the layout to the location.
- Be sure on the price. If you don’t have a budget, put one together now so that you know what you really have available for a mortgage. It is smart to check your credit report, since it could contain errors that are hurting your score.
- Be prepared. You can ready yourself for the homebuying process by going through step-by-step checklists. David Hoegerman, the senior content manager at Homes.com, said that homebuyers want to reduce stress through “guidance and assistance to help make the process easier and smoother.”
Guidance from the right people
Undoubtedly buying a home can be stressful, as this poll indicates – but you can reduce that stress. To extend that notion of preparation, beyond doing your own research, you can get strong guidance through the right real estate and mortgage professionals. “[Ted’s] communication throughout the process was consistent and we always felt well informed,” wrote Nick Patrek in his Google Review of Ted Bougie – First Equity. Experience the Ted Bougie difference.