There’s only one thing more stressful than buying a home, finds survey : DIVORCE

Seven in 10 people (70%) find selling or buying a home stressfulstress buy home
Nearly eight in 10 (78%) find getting a divorce stressful

It might be the mortgage jargon, rocketing prices or fears of a much sought-after deal collapsing but buying or selling a home is the second most stressful event after getting a divorce, a new survey has showed.

About seven in 10 people who have bought or sold a home have found it nerve-wrecking, the biggest source of stress except for getting a divorce, which is considered trying by nearly eight out of 10 people.

Having a child, changing jobs and arranging care for an elderly relative are all said to be less stressful than getting involved in the property market, according to a survey of 2,000 people by Which? Mortgage Advisers.

Some 69 per cent of people who have bought a house said it was a stressful process, just a bit less than 70 per cent of those who had sold their home.

David Blake at Which? Mortgage Advisers said: ‘We’re a nation obsessed with homeownership, but when it comes to buying or selling, our research shows that it can be an incredibly stressful process.’

The survey asked people who had bought or sold a home in the previous five years whether they found it stressful and to name any other life events which they also found tough.

Taking care of an elderly relative ranked high among trying life experiences, with 68 per cent of those who had been through it finding it taxing.

But having a baby had been stressful for just over half of people interviewed, while 49 per cent of people who had changed job felt this way. Some 40 per cent of those who have got married found the event stressful, according to Which?

Among the least stressful life events were finding a school for their child and adapting to not work once hitting retirement, with 36 per cent and 22 per cent respectively having found such events stressful.

Buying a car was the least stressful, with only 17 people saying they found it so.
Which? Mortgage Advisers said gaining knowledge about the process of buying or selling a home can help to make it less stressful. They also said it is important to consider service, not only cost, when choosing a lender.

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One Comment

  1. Selling one’s home is even more stressful when divorce is the reason for selling. When “division of assets” arrive as a step toward severance of a married couple, it can become brutal. I have been witness to a few of such type separations, with divorces pending, the separated spouses having decided to go their own individual ways.

    They both want to “cash out,” but neither (privately) wanted the other to realize any financial comfort from the sale, even when there was substantial home equity at stake.
    In this case, the couple breaking up were two lovely people, apart from such serious disagreement. Then, there’s also the issue of each spouse wanting his/her own real estate agent, usually suggested by each’s attorney. It was settled that I’d be the selling agent. It’s really difficult that perhaps a few months before that, that couple had loved and cared for each other…and then whatever happened…happened.

    I remember interceding between that separating couple,I had listed the house for sale after the husband contacted me about it with the wife’s permission. But, dealing with these combatants was wearing me down, my phone would ring at any time, each battling the other, and neither one could bear the other walking away with half the equity which was substantial.

    Finally, out of exasperation, I addressed them together that they were actually making a transaction easier for me than I ever expected. Since, I was in line for a real estate commission anyway, stated I, it didn’t matter anymore to me whether they lost most of the equity they had accrued over ten years, if that’s what they really wanted. And, if they wanted me to practically market their house at a loss to them, that could be done as long as they’d legally stipulate the fact.

    Initially, I had advised them that I would endeavor to get a fair price for them, but after stating that if they wanted to cut each’s financial throats, I would still walk away with a decent enough commission, that must have registered with them.

    After that, they became civil and declared a truce. A sale did go forward, their attorneys monitored the transaction, and under the circumstances, at least financially, that truce made sense for all concerned. They were going to need money to start new lives. Three years later, I was surprised to receive a phone call from the lady who was half of that divorce. She had met a nice fellow and they wanted to buy a property, and that they were marrying soon.

    It was so good to see her as happy as she’d become with her husband-to-be. I thanked her for remembering me, she smiled and told me “Of course, you’re part of the family.” What a great change!
    All’s well that ends well !.

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