Whether it’s your first time buying a home or your 5th, the process is typically one that is happy as well as overwhelming at times. There’s just no way around it. Purchasing a home is a stressful endeavor. It combines two stress-inducing elements: strong emotions because you are moving out of your home and finances by making one of the most significant investments of your life. Can you avoid stress when you buy a home? The experience of a real estate agent will definitely improve your odds. However, let’s just take a deep breath and relax while trying to enjoy the journey! If you look to the future, you’ll see the light at the end of the tunnel, and it’s worth it!
No matter how “crazy” the ride may become, focus on the positive things. Buying something that is new to you tends to give us a dose of endorphins. Even small things like shopping for a new outfit or getting the latest high-tech toys bring a smile to our faces, so why should home purchasing be any different? Stay out of the stressed phase of “I have too much to do” and focus on the outcome. Working with a real estate agent will make it possible for you to focus on the bubbly aspects of the real estate transaction. We are meant to enjoy our journey in life, and the part that gives us a new home shouldn’t be stress-inducing!
There are ways to simplify the home buying process and make it less stressful for you and your family. Buying a new home involves making fast decisions and should leave you feeling accomplished at the end of the day instead of overwhelmed.
How to Avoid Home Buying Stress?
With how the real estate market evolved over the past few years, Forbes decided to conduct a survey measuring the amount of stress experienced by homebuyers. From their data, we can see that 1 in 3 homebuyers end up crying during this process, 2 in 4 experienced growing anxiety levels, and 2 in 5 determined that home buying was the most stressful event in modern life. All of this data is related to how red hot the real estate market is right now. This only adds to the homebuyers’ stress. It is difficult to purchase a home, which can be seen in millennial homebuyers more than any other generation.
So the subject isn’t about how to not experience stress during this process. That, unfortunately, is not the most achievable goal. However, we can strive to manage the stress levels that we experience and manage the amount of impact we allow it to have on us.
When buying a home, a lot of uncertainty exists. Such as, what location do you want to move to? Do you want a backyard? Pool or no pool? How many bedrooms and bathrooms? What must-have features do you want the home to have to move in? House, townhome, or condo? All of these required decisions can prolong the process of buying a new home. We suggest making a list of all of the features you want in a house first. If you create this list in excel, multiple copies can be printed out and taken with you to each property visited – this helps clear your mind and keep track of what you liked and didn’t like about the property even after you’ve left. Also, using filters when browsing listing sites will eliminate many homes you aren’t interested in seeing. Don’t get sidetracked by extravagant features if you don’t have the budget for them. You’ll stop wasting time and keep a positive mindset.
Suppose schools are important to you, then research or ask your agent where the better school zones are in the city. Focus on those that are within your budget and figure out the best option for you and your family. Maybe being close to nightlife is more important for you. A great way to search based on this preference is to get to know the surrounding areas. If you’re completely new to the city, check the clubs, restaurants, and bars. Then look at prices in the area that best fits your lifestyle. All of these tips will help to speed up the decision-making process. If a property has too many “no’s” then move on to the next. The right property is out there waiting for you!
Once you have that detailed checklist, keeping to it and ensuring that everything on your list is available in your dream home may start a fight with your budget. While we aren’t saying you should forget about that spacious spa-like bathroom with a freestanding bathtub, double sinks, and an adjoined walk-in closet, we do advise caution. The last thing you want is to be stuck on a feature that will transform your dream home into a nightmare due to mortgage costs.
It’s essential to be aware that you might require flexibility in the home buying process unless you have an unlimited budget. The checklist should have all necessary features for you and your family, as well as features that you’d like your future home to have but aren’t mandatory. You can also think about potential renovations down the line if your spa-like bathroom is a must, but the home that meets all your criteria doesn’t have one. An addition or renovation down the line might not be the worst thing possible.
Find a Real Estate Agent
Agents know what needs to get done and in what order. Of course, you can learn more about the real estate industry and research on your own, but a real estate agent has years of experience doing exactly what you need from them. There are many reasons for which you should use a real estate agent, and money is one of them. Aside from that, a skilled real estate agent will pull the required paperwork together, make recommendations for home inspectors and professionals to aid in the process, and push the deal forward. They know what they are doing, they’ve done it more than the average homebuyer, and they simplify the process for their clients.
It’s important you stay focused on the items that require your attention, such as choosing the area you want to live in or looking through the MLS to find the properties you want to visit. Real estate agents are trained with the experience to create a less stressed environment for the negotiations and details involved during the buying process. In the meantime, you can focus on your family, your life, and how the move will improve it. You can also look into the KonMari method for organizing, decluttering, and packing your past so that you can make way for your future.
Know your Budget
Seeing as we already mentioned the sensitive homebuyer’s topic – the budget – let’s take a closer look. When you start thinking about buying a new home, you should take a look at your savings. That is the first moment when the budget comes into question. How much do you have? Is it enough? Do I need more? Depending on the answers to those questions, you should start planning for what’s next. Your savings will most likely become your down payment, so the larger they are, the better your mortgage will be.
Building your credit score will make it easier for you to receive a mortgage, so don’t let any bills unpaid and cover consumer debt as well. For more information, you could look into discussing your credit and plans with a financial advisor. They will give you a better idea of what you can afford. Once all that is done, if possible, try to get your mortgage pre-approved. Hence, you have an advantage over other interested parties, especially with the competitive market we are experiencing right now. Many real estate agents or sellers prefer working with buyers with pre-approved mortgages as there is an extra level of security that the sale won’t fall through. With a pre-approved mortgage, you can navigate the real estate market with much more ease and way less stress.
Some home buyers get overwhelmed during the process of searching for a new home. There’s much to do; research the market, pick a neighborhood, tour the homes you like, pack up your current home, schedule the movers. And the list goes on. Reducing some of the stress associated with buying a new home can be simplified. Make a list of all the items that need to get done (keep a running tab if necessary), do something every day to work toward marking one of those items off the list. It’s ok if the whole project doesn’t get done at once. Simply packing one more box is a step in the right direction to accomplishing all the tasks associated with moving. Feel good about the progress you make, and don’t allow the thoughts to overtake your life.
It’s normal for emotions to be involved. Surrounding yourself with the right team that eliminates stress from this process is a great way to make this transition easier. Keep communication open with your family, have those conversations explaining how the process can be stressful, draining, and exhausting. Focus on your family and let a real estate agent worry about everything else. You will just need to make time to talk with each other about all the steps involved. Sometimes talking it out is enough to reduce the overwhelmed feelings. Always remember this time is a happy time to enjoy with your family and loved ones.Let us know in the comments below about the thing that stresses you the most during a real estate transaction. Maybe we can try to soothe your nerves and improve the experience for you. Like & Share this article with friends and family as we all want to eliminate as much stress from our lives as possible. Just think of that awesome housewarming party you’re going to throw once you’re moved in!