Buying a home is just plain stressful. It doesn’t matter whether you’re investing in your first property or your tenth, the complicated, emotional, and costly process never gets any easier to deal with. Even when it seems like things are going smoothly, all it takes is one small mishap to ruin the deal. Some parts of buying a house are just out of your control, but there are a few ways to reduce the worries ahead. Here are six things that you can do to minimise home buyer stress.
1. Choose The Right Time
Once you’ve decided that you want to buy a house, chances are, you want to do so right this second. However, depending on your life and circumstances, this might not necessarily be the right time. If you know you have major life changes coming up, like a change of jobs or the birth of a new baby, then you may want to put off buying a home until things have settled down a little.
2. Get Mortgage Pre-Approval
Before you even start looking at property listings, you need to know exactly how much you can spend. Unless you have money in the bank to buy a home entirely yourself, you’ll need to borrow from a mortgage lender or bank. Rather than estimating how big a loan they will offer, you should get your mortgage pre-approved. This way, you won’t be let down later if financing falls through.
3. Start Saving Up Early
Your mortgage loan will cover most of the cost of your home, but there are still plenty of other expenses you’ll need to pay for yourself. Of the most important is your down payment, which tends to be at least 20% of the overall cost of your property. There are also closing costs and other fees to plan for. To avoid running out of money mid-deal, you should start saving up early.
4. Work With A Professional
With so many costs already to consider, most home buyers try to save money wherever they can, starting by not hiring a realtor. However, what these people don’t realise is that it’s not the buyers that need to pay real estate fees – It’s the sellers. Because of this, you should ensure you always have a professional by your side, to offer much-needed support and guidance.
5. Always Book An Inspection
After falling in love with a property, the last thing you’re going to want to do is learn of its many structural faults. For this reason, along with the cost, many buyers opt not to have their home looked over by a building inspector. However, this can be a risky and potentially costly decision. As much as you may like your chosen house, you shouldn’t risk buying it if it has major defects.
6. Prepare For Your Move
The buying process may have been tough, but, unfortunately, the struggles don’t end there. Once your offer has been accepted, and paperwork has been signed, you still need to move house. To make this a smoother experience, you need to be well-prepared and organised. Make plans for your children and pets and ensure you book a removal company as early as you can.
Buying a home will never be stress-free, but, you can make it a little easier by following the tips above.