Buying a home can be stressful, but there are many things you can do to reduce your stress during the buying process. Being prepared and working with knowledgeable experts can help.
Below are some of the most important things you can do to make your real estate purchase as stress-free as possible.
Give Yourself Time
Buying a house takes time. Even after you find a house to buy, making an offer can take days or weeks as a price is negotiated, and the escrow and closing process can take another month after the price is settled. Trying to rush your purchase can create stress and lead to mistakes.
If you need to vacate your current residence by a set date, give yourself several months lead time to find an agent, find a house, make an offer, get a loan and go through the buying process.
Prepare Finances in Advance
When it's time to get a loan, you're going to need to gather a lot of information for your lender. Scout out lenders before you start looking at houses, and ask up front what kind of paperwork you should be gathering to secure a loan. This will give you time to get your finances in order, so you'll be ready to take out a loan when closing date approaches.
Start Packing Early
Once you make an offer on a house, you'll find yourself very busy with the buying process. There will be home inspections, document signings, conversations with your lender, meetings with your real estate agent and other fine details. Finding time to pack will be difficult. Packing early, before you ever make an offer on a property, will reduce stress during the home buying process.
Get Multiple Inspections
The unknown can be a scary thing, especially when it comes to buying a house. Getting multiple inspections of the property will help you enter into the deal with your eyes open. After you make an offer on a property, it's standard practice to hire a home inspector.
Home inspectors check most systems in the house for defects, but may not check all systems. For example, the home inspector you hire may not inspect the sewer and chimney. To ensure that the house you buy is a sound investment, hire experts to inspect any parts of the property that are not checked by the home inspector.
Even if you plan to borrow most of the money for the home purchase, you'll still need cash for out of pocket expenses. The home inspection, for example, may cost hundreds of dollars depending on your location and the standard rates for the area. Moving can also cost in the thousands, and you'll need to have money for a down payment.
To reduce your stress, start saving well in advance. If you're not sure how much to save, seek advice from your real estate agent and lender.
Pick a Good Real Estate Agent
Your real estate agent is your best ally during the home buying process. Knowing that there's someone on your side to represent you during negotiations, advise you when you're feeling uncertain, and present solutions to home buying problems will make the buying process feel far less stressful. Working with an experienced real estate agent can also help you avoid pitfalls and common mistakes. Find a real estate agent at the beginning of the home buying process, before you go house hunting, to ensure the process goes as smoothly as possible.
While it's likely impossible to get through a home purchase without a small amount of stress, following these tips will greatly reduce the amount you experience and make the process more enjoyable overall.