A first-time homebuyer told me that signing the purchase agreement just about made her sick with stress. She asked if that is normal, I had to tell her it is normal to feel stress while signing a purchase agreement. Home purchases should not be taken lightly. Often the purchase of a home is the largest purchase we ever make.
Some real estate agents advertise that they can take the stress out of home buying. It isn’t even possible to know ahead of time what is going to cause the most stress or what the sellers might decide to do that will make the process extra stressful. There isn’t any way to take all of the stress out of the process. Some people are easily stressed out and others are not.
Here are some of the main sources of first time homebuyer stress:
- Doing something for the first time that involves a large sum of money.
- Never feeling in charge of the situation.
- knowing that owning a home will be a significant change that will affect most other aspects of life.
- The stress of having a mortgage and dealing with a lender.
- Issues uncovered during the inspection process or in dealing with the sellers.
Those are the main stressors but there are many more. Waiting is can be a huge stressor and there are times when we just have to wait. Competing with other buyers, the fear of paying too much and finding problems during an inspection are a few more.
I encourage people to listen to that inner voice and work through the issues. For most people owning a home is worth the effort.
Be prepared to deal with the ups and downs during the home search and buying process.