Buying and selling homes is stressful, but selling is seen as more stressful. Selling a home often requires many months of hard work. However, this inconvenience will pay off and you'll soon be able to move on to the next chapter of your life. Simply put, selling and buying a home are stressful, but selling takes the crown.
One of the reasons why scheduling and financing the sale of a home can be stressful is that many home sellers (64%) are buying another home at the same time. In fact, 51 percent of home sellers found it specifically stressful to schedule the sale of their current home with the purchase of a new one. While the process of buying a home is stressful, anxiety after buying a home can be just as disconcerting. This stress can continue to affect you long after the shutdown.
If you feel afraid after buying a home or want to make sure you don't regret your decision, there are some steps you can take. The uncertainty and unpredictability of the traditional home sales process mean that many home sellers reach a breaking point: previous research by Zillow revealed that more than a third of home sellers cry when they sell a home, and more Americans are stressed about selling a house than planning a wedding or being fired. You might think that most of the stress of selling revolves around juggling family and life while keeping the house ready to be displayed at the last minute, but sellers said that the two main causes of stress revolve around time and money, things they can't control. Keep in mind that this also means that the seller is no longer required to sell the house to you if the condition is not met on time.
As a buyer, it may be beneficial to your situation to make a contingent offer for a new home on the condition that you can sell your old house first, especially if you can't afford two mortgages right now. You may feel stressed if you don't have enough time to move or if you have to pay mortgages on two homes because your old house isn't selling fast enough. The process of selling a home can be difficult: 95% of home sellers said that they find some aspect of selling a home stressful. Before you get too deep into the buying and selling process, talk to a real estate agent and make sure you have a solid plan for how you'll manage the buying and selling at the same time.
Another 16 percent of sellers say that expensive repairs and improvements are the most stressful part of selling a home, and 15 percent worry most about not selling their home. Younger sellers are more likely to worry about leaving home during visits and open days than older sellers, and Gen Z or millennial home sellers are more likely to feel stressed due to a lack of control over the sales process than sellers from older generations. Finally, just as it's important to work with a reliable agent and lender to buy a home, working with a reliable real estate agent is a must to sell your home.