Surely buying a home should be exciting, so why are you so incredibly stressed? Does that thought stress you out even more? First of all, take some time to breathe and rest assured that this anxiety you are feeling is completely normal. Second, there are ways to reduce the stress caused by this complicated process, and help you cope better. Here are some things to put your mind at ease.
1. Know Exactly What You Are Looking For
The most important part, perhaps, is to know exactly what you are actually looking for when you start your house search. If you just look around aimlessly and have no idea what your ideal home is, then you're going to have a bad time and your stress levels will shoot through the roof. Why not create a list?
- Set your price range
- Decide what you are looking for
- Decide what are your Must Haves
- Decide what you are willing to compromise on
It's all about creating a mental image of your target. It will never be exactly like you imagined, but it should check off the majority of what you need in a new home. Only you can decide what your priorities are and what you are willing to let go of, but that's something you can always figure out later. For now, you must know WHAT you are looking for, when searching for a house. Otherwise, it's just a wild goose chase. Money Saving Expert has a handy first time buyer's guide if you need guidance.
2. Make Sure You Can Afford It
It doesn't matter if you know what your ideal house looks like if you can't even afford the doorknob. Make sure that your expectations are in line with your budget. In other words: know what your budget is, be realistic, and don't stray from it.
It can be very tempting to go over-budget when faced with what you think is your ultimate dream home. However, keep in mind that if you can't afford it, then it's NOT your ideal home. Thankfully, there are government schemes set up, like Help To Buy, to provide some aid. You can find more information about government schemes at The Money Advice Service.
Going into a house purchase when you already know that the mortgage is more than you are comfortable parting with is a red flag and a sign for future trouble to come. When you're scrambling to make the mortgage payments six months down the line, the house won't look as perfect anymore.
3. Don't Allow Yourself To Be Pressured
Unless you're in a serious time crunch or emergency situation, there is no reason why you should hurry to buy a property. Remember that this can be a long, drawn out process, and that, above everything else, this is a massive purchase and your home for a long time to come. Those are two big reasons why you need to take your time browsing, searching, vetting, and deciding.
Don't allow yourself to be pressured by stress, anxiety, relatives, or real estate agents. This is YOUR house, and you will find it and buy it on YOUR timeline. It has to feel right and be right from every point of view, including financial, so prioritise your long-term wellbeing and take your time with this purchase. You will be grateful for it later.
4. Don't Be Afraid To Get Help
Where does it say you have to do this alone? This is a big decision, and you should accept all the help you can get! Get your spouse, your friends, or your family on board if you need help deciding. Seek out a financial advisor if you're unsure of the finance side of things, and by all means, do rely on the advice of real estate and financial experts.
Especially when it comes to things like mortgages, things can be complicated and you want to be as informed as possible. Citizens Advice are able to give you excellent advice and make your journey easier by making sure you are armed with valuable information about this purchase you are embarking on.
As you can see, you don't have to surrender to stress; there are ways to circumvent the stress associated to buying a house, as long as you remain organised and stay on top of things.