If you have ever dealt in real estate, you will know that the process of bidding for one home while simultaneously selling another is an extremely convoluted and challenging. Time consuming and expensive, it also involves a myriad of forms and documentation that are enough to make even the most organised individual lose themselves in a sense of confusion and an avalanche of paperwork. It is certainly a long way from being fun, although a recent survey by Which? has suggested that its impact goes far beyond irritation and inconvenience.
Where does house buying sit on the spectrum of stress?
Interestingly, the survey by Which? revealed that respondents placed buying (and selling) a home second in the stress burden stakes, ahead of having a child, changing jobs and planning a wedding. It only came second to divorce, although this was a close-run thing and the key take-away from the survey appears to be that no single individual should ever underestimate the true challenge of dealing in real estate. This may be even truer in the current market, where there remains an imbalance between supply and demand and a disproportionate hike in valuations.
These stress levels are so tangible that many are turning to house sale specialists such as Property Rescue when selling their home, as they look to complete a quick and seamless transaction in exchange for a slight reduction in their return. You can find out more here about how such a service works, but the key to remember in the current market is that most houses have inflated valuations that enable owners to sell lower while still achieving a profit. The slight drop is asking price is also compensated for by the ease of completion, which removes all of the stress from selling a home and makes it easier to focus on buying (which, let’s face facts, is far more fun!)
Why do we consider dealing in real estate so stressful?
While buying and selling property is undoubtedly stressful, it seems strange that we should place it on a par of giving birth or getting married. After all, these things involve many more moving parts and are extremely emotive, making it even harder to focus on the key logistical and practical elements. The answer lies in our obsession as a nation with home-ownership, which often clouds are judgement, dims the senses and makes the process of buying more emotionally draining than it should be. Even in a market where the odds are stacked in favour of the seller, we continue to define ourselves by the assets that we own instead of perhaps focusing on the more important things in life.
