Most of us know that buying a home can be stressful – even if we’ve never done it. There are so many property shows on TV and many of them suggest simply finding a potential home we like can cause untold anxiety.
So perhaps it’s no surprise that a third of Brits believe buying a new home is either as stressful as going through a breakup – or even more stressful.
New research* conducted for us reveals that moving house is seen as more or as stressful as the end of a long-term relationship by one in three respondents. And nearly the same number of people think it’s comparable to caring for a sick relative.
So anxiety-inducing is the process of moving homes that one in five thought of it as creating the same level or more stress than the death of a relative. Nearly one in 20 thought it would be more stressful.
Perhaps the reason people think buying a home is so stressful – even if they’ve never owned one – is all the steps that must be taken to do it. First there’s finding the house, then applying for a mortgage and negotiating on price, getting a survey done, sorting the completion date – and once all that’s done you still have to pack up your things and move.
For the people who have bought a new home within the past five years, actually finding a property was voted as the most stressful step by two-fifths of respondents. Having to pack up their belongings and move them from one place to another came a close second.
Negotiating with the seller on price was rated as the third-most stressful step in the house buying process. This was followed by applying for the mortgage that will provide the funds to buy the property.
The right mortgage
Finding, applying for and securing a mortgage can be incredibly stressful, especially if it’s not something you’ve done before. And even if you’re remortgaging, picking the product that suits your needs and is affordable can be time-consuming.
Ocean Finance works with a range of lenders to find customers the right remortgage** for their needs. Our expert advisors compare quotes from across the market, and provide support through the application process. To find out more, and to apply for a quote, click here.
*OnePoll questioned a nationally representative sample of 2,000 adults aged 18 and over between 24Th July and 31st July 2014, of whom 620 were Scottish residents.
**THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Disclaimer: All information and links are correct at the time of publishing.BACK TO BLOG HOME