“I promise you nothing is as chaotic as it seems. Nothing is worth diminishing your health. Nothing is worth poisoning yourself into stress, anxiety, and fear.”
– Steve Maraboli
Homebuyers would do well to remember these wise words. Buying a home is exciting but it can quickly bring an onslaught of stress when obstacles arise. Shopping for a home takes time, but you can take practical steps to mitigate and treat stress in the process. In this article, you’ll learn how to remain confident and focused in your search.
Top Homebuying Stressors
Some common scenarios can throw you for a loop. Here’s what to watch out for:
Negotiating the home’s price
Negotiating is tricky, so it’s best to consult with your real estate agent if you receive a counteroffer. Make sure that you analyze comparable homes recently sold in the area and know how this home measures up. Scrutinize the home inspection report and note repairs that need to be made or any major damage to the property.
The deal falls through
You won’t have control over what a lender thinks of your loan application or how a seller reacts to your offer. Increase your chances of a solid deal by getting preapproved for a mortgage, attaching preapproval letters to every bid, double-checking for mistakes in your offers, and educating yourself before you make an offer.
Not having confidence in yourself
Doubt and fear lead to hasty and irrational decisions. When you buy a house, remember to act on logic and not emotion. Learn about the common mistakes people make when buying a home so you’ll be prepared.
Searching for homes in a seller’s market
A seller’s market is challenging because many different buyers are competing for a limited supply of homes. Prices can skyrocket, which makes it more difficult to find an affordable home.
Be Clear On Your Needs and Flexible With Your Wants
Narrow down your home needs and then consider your most important wants. Consider the home type. Do you want a single-family home, townhouse, or condo? Then, estimate your space requirements and consider your lifestyle. If you’re a minimalist, you might want less square footage, but if you have a family of five, you might need to choose a large floor plan. Your wants, or nice-to-haves, are only limited by your imagination.
The goal of your search should be to have your needs and wish list written down. Share these characteristics with your agent if you’re working with one.
Be Realistic, Not Idealistic
Understand what your budget will get you in the current real estate market. It can be tempting to splurge because you want certain features, but what you want right now may not be available. Also, recognize that the home buying process will take longer than you think. Don’t set up your calendar to revolve around landing your dream home; think realistically instead. If you’re doing your homework and taking your agent’s advice, trust your educated judgment! Ultimately, it’s your decision, and you should be secure in that. Just remember that you can’t control the outcome of a home sale.
Take Time to Relax
Allow other activities to occupy your life, not just house hunting. Some good stress-relief activities to try:
- Take several deep breaths when you feel the stress mounting.
- Take a bubble bath.
- Take a yoga class.
- Get a massage.
- Exercise outdoors.
- Listen to music you enjoy.
- Try a daily guided meditation using an app like Headspace.
Talk to Someone You Trust
Bottling up your stress is a recipe for disaster. Use your resources instead. You can confide in your house struggles with friends and family, seek advice from someone who recently bought a home, or consult with your doctor or therapist. Finally, consider bringing the stress to your agent’s attention. Allow them to ask you questions, and speak up if you want to make a change to your homebuying strategy. Your agent should encourage you to stay the course while addressing your concerns.
Cooperate With Your Agent
When working with an agent, keep the relationship dynamic by letting the agent learn your likes and dislikes, and allow him or her to help you. Ask questions about terms and complex processes you don’t understand, and be willing to provide your agent with pertinent information.
The Bottom Line
When buying a home, especially for the first time, narrow down your preferences and familiarize yourself with options in your price range. Ensure that you have adequate savings and an emergency fund so your finances are airtight. If you decide that you can’t live without certain home features, make sure you update your agent so the process is less frustrating for both of you. Even if it takes longer to find the right house, you will be glad you thought it through.
Disclaimer: The author of this article is not a trained medical professional. You should seek your doctor’s advice if you need treatment for stress, anxiety, or fear.
