Every buyer goes through a series of emotions from the moment that they begin their search for a new home to the euphoric time when they take possession of the front door key.
Let’s not sugar coat this: buying a new home can be a stressful time. And first time buyers must deal with the anxiety of dealing with each issue for the first time. Building a home comes with it’s own set of stress. The point is, no matter where you are on the purchase ladder, you’re going to feel some stress – it’s normal.
If you already own a property you must not only focus on purchasing a new home but selling your existing one. Ideally, you can do this simultaneously, otherwise you may need an expensive bridge loan or to find temporary accommodation, plus storage for your belongings. Either way, it can feel like a complete hassle.
With our many years of building, we’ve seen all the emotions that buyers go through during a transaction. To help you prepare, let us step you through the fundamental stages that can press your buttons. If you’re forewarned, you’ll find it easier to manage your stress levels.
- There’s nothing I like – For sure, there is. You just haven’t found it yet. There is a home for every buyer. Be patient. It’ll come. (And of course, if it’s not there, we can build it!)
- This is the one! – Great! Let’s enjoy the moment, but not too much. There is still a lot of work to do before you can call it home.
- Your heart is set – Okay, let’s take a reality check. Others are probably going to like the property, too. It could get whisked away from us. Sometimes, hesitating can cost you the home you wanted, so be prepared and ready to commit when you find the perfect home.
- Nerves set in – We worry more about this emotion than any other. You can want a property too much sometimes. You get caught up in the moment and undermine your ability to think clearly about when you want – over analysis sets in. What if I want a different kitchen tile? Am I paying too much? What about the taxes? Should I add on a gameroom? Argh – there is so much to think about!
- OMG, these banks! – Applying for a loan is no picnic. This is where reality starts to bite as you begin to see how much your home is about to cost. Numbers will start flying at you – appraisal, interest rate, downpayment, insurance, escrow reserves…ARGH! A lender can help reassure you (or not) that you’ve got this when it comes to meeting those mortgage payments.
- How much?! – Money runs through your fingers like water. You just wrote a deposit check and it’s starting to sink in. It’s time for a deep breath and to remember this property is “the one” and these expenses are all part of your master plan.
- Pre-closing anxiety – Of all the emotions we see in buyers, this is the most common. You’ll question whether you’re doing the right thing – pretty much everyone does. You’ll look at your preliminary closing statement and think that there are way too many closing costs. It’s understandable, but trust us, you’ll quickly focus back on the prize – an amazing home, that will be there for you for years to come.
- What have I done? – With good guidance you’ll avoid this but some highly anxious buyers end up in this headspace. Remind yourself – if your new home has met your predetermined criteria, you’ve kept your emotions in check and you’re finally moving toward the home you deserve, then raise a glass and congratulate yourself – you’ve done a great job!
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