There is no doubt about it, the entire process of buying a house is full of stress at every turn. From getting the location right, understanding your compromises, applying for mortgages, meeting deadlines, to moving itself, and that is assuming that everything goes according to plan. When quite often it doesn’t. To help you manage the stress of house-buying here are some helpful hints for your house-buying journey.
Take your time
If you can try to take your time when it comes to buying and selling. Time is an added pressure that you do not need and is likely to complicate matters. You do not want to be rushed into buying a house ‘for the sake of it and then live to regret it later on. Similarly, when you are selling your home it is a good idea to put it on the market before you find a house you want to buy. This puts you in a favourable position when you find a house you want to make an offer on as you will be ready to move and a more appealing prospect to your vendors. It will also mean that you will not be quite so desperate to sell your house (potentially letting it go for less) to not miss out on your dream property.
Be financially prepared and be aware of all of the associated costs
You will no doubt be aware of the big costs, your deposit and your monthly mortgage repayments but are you aware of all of the additional costs that go into buying a house? Better yet, are you prepared for them? Financing is always one of the biggest stressors in life so don’t let it complicate your house move. Here are some additional expenses you need to be prepared for;
- Estate agent fees (if selling).
- Conveyancing lawyers come at a cost and have associated legal searches.
- Stamp duty land tax.
- Mortgage application costs and fees.
- Surveys.
- Removal costs.
- Insurance costs.
Make sure you understand everything
Buying and selling houses is an age-old tradition that dates back hundreds of years. As such there can be some historic and unusual terminology used, especially during the legal aspects. For example, you may be subject to restricted covenants, bound by rights of way or something unforeseen may appear on a chancel search. If you do not fully understand anything when undergoing the process it can add considerable stress and misunderstanding, which could prove to be costly in the long run. Never be afraid to ask questions or for an explanation of something you are unsure of. Make sure you undertake all of the documents and paperwork you are signing and any consequences that may go with it.
Some things are not meant to be
Falling in love with your dream house only to learn that you cannot realise your dream of owning that particular house can be devastating, at any point in the transaction process. House sales and purchases fall through all of the time and sadly it is an all too common part of the process that you need to be prepared for. If you find yourself in this situation it can be hard to pick yourself up and move on but try to take solace in the fact that some things are not meant to be and that when you do complete a sale or purchase it will be on more favourable terms or an even better property.
