Buying a house is stressful! We’ve been a part of making the American dream a reality for thousands of families across the country and understand that stress remains a consistent variable. Emotions are usually high during these times and the anxiety of buying a home can range from excitement to dread. As experienced and top-selling real estate professionals in the Scottsdale area, we can offer guidance that will put your mind at ease. This should be an exciting and fulfilling time in your life in which you make a major purchase that can have a huge impact on the direction of your future. These tips will help you reduce home buying stress and bring much-needed perspective while making this important decision.
How to Reduce Home Buying Stress
Buying a home can be a complex process that can be both frustrating and exhilarating. With each step, so many things can go wrong or be overlooked. The best way to avoid unnecessary worry and stress is to be prepared. Having clarity and being willing to compromise will help you get to the finish line much faster with less stress.
- Finances – Before house hunting, make sure you are realistic about the amount of house you can afford and have a preapproval ready to make a move. Sadly, the excitement of house hunting at open houses or online searches can come to a disappointing end when it is revealed that the house is out of budget. This can cause unnecessary stress. Having a preapproval and the right lender available will give you the information and confidence you need to make a realistic offer.
- Clarity – Are you looking for a condo, townhouse, or single-family home with a yard?
Now that you know exactly what you can afford, knowing what you want in a home is next. Before you look for a home, have a good idea of what kind of home you are looking for. By clearly defining what you are looking for, you’ll be clear on what you want when you start house hunting and making compromises. Some features you may not want to budge on while others you can live without. You won’t know this until you have a good grasp on exactly what you’re looking for in your dream home. This will help ease the stress of buying a home and allow you to get closer to what you want.
- Lender – Since a mortgage is one of the biggest financial commitments you’ll make in your life, it’s critical that you chose the right lender with the best price and terms available. Contrary to popular belief, mortgage prices can vary widely that will have a significant impact on the life of the loan. When considering long term costs, it’s best to think about a few points when making your decision:
- Pressure – If a mortgage lender is pushy or aggressive, run as fast as you can! A lender should have your best interests in mind by educating you on the process of obtaining a mortgage and giving you ample time to make that decision. Choosing the wrong mortgage lender can add to the stress of buying a home.
- Costs – You’ll want to know about all of the costs associated with the loan, including the interest rate. Other costs associated with a mortgage loan include closing costs, inspection costs, PMI or private mortgage insurance, and any lender credits or programs that will help reduce the interest rate and closing costs.
- Closing – Always ask about the length of time it takes to close on a mortgage. This will give you a good idea of the efficiency and costliness of a particular lender.
- Realtor – Picking the right realtor can have a major impact on how smooth and pleasant your home buying experience goes. A realtor is a free service for the buyer so choose wisely! Getting a referral from friends and family is a great way to find a realtor you are comfortable with. When you’ve secured a great mortgage lender, they will likely have great realtor references for you. Just remember that you should feel free to take your time in choosing an agent who understands the market you are interested in and is willing to coach you through the process. A great realtor is invaluable when negotiating closing and repair costs.
- Documents – Ensure that all your documents are in electronic form for easy access and sending capabilities. When these are prepared and ready to send ahead of time, you can avoid last-minute problems like missing documents. Streamlining your process by making your documents available online will move you closer to the finish line much faster.
- Respond – When your documents are in electronic form, you’ll be able to respond to lender requests quickly. This will drastically reduce home buying stress and make the process much smoother. Emotions are high so be sure to read all emails and documents sent to you slowly and carefully before responding. You’ll want to print out the emails sent to you from the lender to use as a checklist to keep organized throughout the process. This will not only help keep you on track but will help the realtor stay on the same page with you. Using a group text will help everyone collaborate and communicate on the same items as you work through your checklist.
- Awareness – We encourage you to be aware of wire fraud when putting a down payment on a home. For this reason, using a cashier’s check will keep your funds safe. If you still prefer to wire the money, please make sure to inform and confirm with your lending company that you will be wiring your down payment. Most importantly, remember not to respond to requests of sending the money to an alternative bank.
- Perspective – It is completely normal for emotions to be running high throughout the home buying process. Buying a home is stressful and you’ll feel a wide range of emotions and thoughts during this time. By maintaining perspective and focusing on the big picture, you’ll be better able to navigate those feelings of being overwhelmed and confused. Let the joy of purchasing your first home, making memories, and receiving keys to be your motivator!
- Relax – Dealing with home buying stress is like any other new project you begin working on. Taking breaks and relaxing to give yourself an opportunity to regroup, find clarity, and move forward is important to decompressing. Some great ways to decompress and treat yourself can include a massage, dinner with friends and family, yoga, quick road trip, or a simple nap. Be kind to yourself and create space for you to make the best decisions possible for you and your family’s future.
Jeff Barchi Can Reduce the Stress of Buying a House
For over 20 years, the Jeff Barchi real estate team have been guiding homeowners to closing by reducing home buying stress. Barchi’s expertise is virtually unmatched as a top 1% leading realtor in the country. With long-standing relationships in the industry and excellent referrals, the Barchi team is well-positioned to help homeowners through a challenging pandemic and beyond.
Contact the Jeff Barchi real estate team and ask how we can help guide you through the stress of buying a home today!