Although buying a home is a dream for many people, there’s no denying it can be a daunting prospect if it’s to be your first home. It is the biggest transaction you will ever make.
From hidden costs to taking on more responsibility, there are many factors that can weigh on your mind as a buyer, all of which can contribute to first time home buyer anxiety.
In fact, 60% of people consider moving to be one of the most difficult events in life, with 43% of people claiming the stress of a sale is a contributing factor, emphasising if you’re dealing with anxiety or worry around buying a home, you’re not alone.
If you’re struggling with first time home buyer anxiety, this guide is here to help.
But first, let’s break down the potential for stress that surrounds the home buying process.
Is Buying A House Stressful?
In short, buying a house can be stressful. This is largely due to the fact that purchasing any property involves many moving parts, from achieving a mortgage agreement in principle to carrying out searches and a home survey.
As such, the conveyancing process is often perceived to be a stressful experience as there’s a lot of money involved, and there’s much to consider and organise. This can make it particularly challenging when it’s your first time buying.Â
However, it isn’t always this way, and whether you’ll find it stressful will depend on your personal circumstances.Â
Moreover, there are many ways to manage your stress and anxiety, which can help make the process more manageable.
How To Manage First Time Home Buyer Anxiety
To manage first time home buyer anxiety, you will want to:
- Speak to friends and family
- Don’t make assumptions about the process
- Instruct a conveyancing solicitor early on
- Schedule in admin time
- Don’t allow the process to consume you
1. Speak To Friends & Family
The first tip for managing first time home buyers anxiety is to speak to friends and family.
Chances are, you’ll likely have people in your life who have been through the property buying process and are willing to act as a sounding board.
Talking through any worries or anxieties you may have with your loved ones can significantly help ease your mind, as many of them will likely have experienced similar issues in the past.
Voicing them to others with experience can help to reassure you, as they’ll be able to provide you with some useful tips that helped them, so don’t be afraid to ask for help!
2. Don’t Make Assumptions About The Process
Many people go into the process with preconceptions and ideas about buying their first home.
From how long it takes to get to completion day to getting your mortgage approved, many people assume the process of buying a house is going to be stressful no matter what.
However, there’s no point in sweating about problems that may or may not occur. Although this can be easier said than done if you’re already feeling anxious about buying a property, it’s important not to let your mind run rampant with worry.
If an issue does crop up on the journey, then you will be able to tackle it much more efficiently if you’ve not already burned yourself out.
There’s a lot to think about during the home buying process without worrying unnecessarily, so try not to assume the worst.
3. Instruct A Conveyancing Solicitor Early On
The next tip is to instruct a conveyancing solicitor early on.Â
As soon as you start looking at properties, get quotes from conveyancers so that as soon as you have an offer accepted, you can instruct your solicitor straight away.
An experienced conveyancing solicitor will handle all the legal aspects of your move, carrying out the correct searches and providing you with any documentation you need to read through and sign.Â
They’ll also provide you with advice and answer any questions that crop up throughout the buying process, helping to ease your mind at every stage.
If you don’t instruct a solicitor early, numerous issues can occur, causing delays in the transaction process. This can exacerbate any feelings of anxiety, so it’s good to find a solicitor you can trust early on.
At Harding Evans, we recognise that buying a property takes a lot of organisation, and our team is on hand to make sure the process is as seamless and stress free as possible.
Our online calculator provides a quick and easy way to obtain a quote for our conveyancing services. Once you have had your offer on a property accepted, you can then accept this quote and instruct us straight away, with a click of a button – anytime, day or night! Get in touch today.
4. Schedule Admin Time
A key tip to managing first time home buyer anxiety is to schedule admin time.
This is time you dedicate to tackling home buying admin, and is important whether you’re buying a house alone or with a partner.
If you don’t schedule specific admin time, various tasks can begin to build up and lead to you feeling anxious and overwhelmed with the volume of research and paperwork that goes into the conveyancing process.
Moreover, not scheduling admin time can lead to the home buying process taking over your daily life, which leads us to our next point nicely.
5. Don’t Allow The Process To Consume You
Lastly, to manage buyer’s anxiety, don’t allow the process to consume you.
Although buying your home is probably the only thing on your mind, be sure to remember buying a house is a marathon, not a sprint.Â
If you’re feeling like it’s beginning to take over and is impacting your happiness, it’s important to practise self-care.
This will look different for everyone but might involve taking time for yourself to start a new hobby, meditating, or getting out in nature, which can help to reduce feelings of anxiety.
Remind yourself of the end goal and that it’s all going to be worth it in the end when you’re in your lovely new home.
How We Can Help
At Harding Evans, we believe the home buying process becomes a lot easier with the services of a trusted solicitor who has the knowledge and experience to guide you through.
Our experienced conveyancing solicitors will do everything we can to help and keep the process moving forward.
Contact a member of our team at client.engagement@hevans.com today to learn how we can assist you.
