How to beat first time buyer anxiety


Nervous about buying your first house?


That’s not a surprise: buying a house has officially been listed as one of the most stressful life events a person can go through, even topping bankruptcy and divorce! And this isn’t showing any signs of changing soon - research from Aldermore bank reveals that 47% of people claimed they had to rebuild their lives after buying a house. So what exactly is it about buying a house that is so stressful?


Why is buying a house so stressful?


There’s no denying that the house-buying process is an emotional one that can take you on a long path, sometimes with many twists and turns. So it’s no surprise that many first time buyers say buying a home is stressful - with many suffering from what’s known as ‘first time home buyer anxiety’. But aside from all the paperwork, what makes buying your first home so stressful?


Buying your first home can take up a lot of time and energy. The shortest time buying your first home can take is roughly three months - and that’s if everything goes ahead smoothly. That’s also not taking into consideration if you’ve bought a house that’s a bit of a fixer-upper. If you have, then getting the keys is just the beginning, and you may even experience financial difficulty along the way if you haven’t budgeted for things such as building materials and furnishings.


You’re probably juggling a lot of important life decisions at the same time


According to the Mortgage Advice Bureau National Mortgage Index from November 2018, the average first time buyer age is now 31. Think about what else could potentially be happening in your life at that age. You might be focusing on your relationship, considering marriage or starting a family. You might also be concentrating on your career, trying to steer it in the right direction whilst you’re in your prime. These are all other major life events to be considering at the same time as buying a house which adds to the stress that you could be feeling. It’s therefore no surprise that first time home buyer anxiety is a real thing, as this can put a huge strain on even the healthiest of relationships.


So is the stress of buying a home worth it?


Whilst the first time buyer struggle is real, 72% say that yes, it is worth all the stress and anxiety. Despite the problems it may cause in the short-term, many couples claim that it brings them closer together in the long-run, as they learn to support one another through the ups and down associated with buying a house.

Buying a first home is a huge period of change and transition, so it’s only natural that feelings of stress, worry and anxiety can rise to the surface. And although it’s perfectly okay to feel like this, we just don’t think that it’s right for the majority of first time buyers to have to go through this. Yes, you might face a few challenges and hurdles along the way, such as offers being declined or surveys revealing issues with the property, but there are plenty of experts in the field who can help, like your mortgage adviser.


Our top tips for dealing with first time home buyer anxiety

  • Lean on your friends and family for support - they’re likely to have gone through this themselves and might be able to offer some words of wisdom to put your mind at rest.
  • Don’t try to guess what might happen - wait and see what actually happens and then deal with the facts once you have them.
  • Take a break - do something non-house related to give your head a rest from all the house talk. Read a book, watch a film, cook a new recipe, go for a walk etc.
  • Speak to your mortgage broker - they will be more than happy to answer your questions or even just give you an update on where your application is at.

How we can help you deal with first time home buyer anxiety


When working with a mortgage adviser, you don’t need to worry about the paperwork or making sure you do things on time. They will deal with the whole application process and keep you in the loop along the way. And no matter how silly you may think they are, if you ever have any questions your mortgage adviser is always at the end of a phone, ready to help.

Get in touch today on 0161 925 3255 to find an adviser in your local area today and put your mind at ease.



Article: Mortgage Advice Bureau


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