There are a lot of emotions involved when buying or selling your home. However, stress and anxiety are almost always part of the emotion combo. That’s why we interviewed Jasper Juhl, CEO of Better Estimate, to tell us a little more about these emotions and how to deal with them properly.
Why do people feel stress and anxiety when buying or selling their home?
When you think about your current situation, you realize that you’re going through the same routine day in and day out, not much changes. People are content in their comfort zones. We feel safe when there’s a constant in our lives. When you want to sell your home or buy a new one, you get a feeling that something huge is about to happen. It’s a change that we are never really mentally prepared for. Sometimes, it feels like everything’s alright at first, but after some time passes, we panic, and this is one of many reasons we feel stress and anxiety when buying or selling a home.
What do you mean when you say “one” of many reasons?
Well, of course there are going to be other reasons, but it’s still all very psychological. Think of it this way, when you first think about buying a new home, you feel excited and energetic. You meet the real estate agents, you hire yours, and he shows you around houses you might be interested in. You agree to buy a home for the seller’s price and then the bureaucracy sets in. You don’t feel stress and anxiety at first, but you start to realize the actual cost of the whole thing because now you’re paying real money for everything. All sorts of inspections, appraisals, and other services. Of course you’re going to be anxious and stressed, and then the pre-contracts and loan paperwork starts. There’s not much we can do to deal with these annoying situations, because everybody buying or selling a home has to go through them. It’s all about dealing with the stress from the psychological aspect.
So, how do we deal with stress and anxiety? What do you suggest new buyers do?
It’s not going to be easy for sure. I guess spending your earnings is never easy, especially when you know how hard you worked for it. Also, with current mortgage rates and the situation, it’s never going to be easy, but you can think about the good things. Don’t remain in the moment. Look ahead. Visualise your new home, and what you’ll do once you move in. Think about what you’re investing in. You’re investing in your family, you don’t have to pay rent anymore, and you get a roof over your head. Even if you’ve taken out a loan. Fine, you’ll be paying back your fixed-rate mortgage, but once you finish, the home is all yours. You can sell it, you can do whatever you want. I figure that a majority of U.S. citizens live as tenants, so imagine the feeling you get when you become a homeowner. I believe there was a study at the Joint Center for Housing Studies at Harvard about social impacts. It says that the more you’re satisfied with your home and neighborhood, the more you participate in the activities of that community. So, instead of just getting a new home, a new life achievement, you’re also getting new people in your life. The study also says that you get a self-esteem boost, which is always great.
What about selling your home?
What about it? It’s a change in your life. You just hope that you get a great estimate on your property. If that’s alright, then you shouldn’t feel stressed or anxious at all. And if you do, think about it this way, you’ll get a chance to decorate your new home, meet new people, and have more room. It all depends on what you want out of your new home. It doesn’t matter whether you’re selling or buying a home, the most important thought you should have is that you’re doing something new, something exciting, and something that will benefit you. Having a roof over your head is an achievement and a privilege. That’s how I see it, and that’s how I would cope with the stress and anxiety.