Buying and selling a home 'the second most stressful experience'

Buying and selling a home 'the second most stressful experience'

Buying or selling property is one of the most stressful experiences anyone in the UK will go through, according to a new report from consumer organisation Which?. 

The company said that buying and selling homes is a more stressful thing to go through than starting a family, and comes a close second to only going through a divorce when it comes to the stress it can put on people. 

According to the survey, as many as seven in ten people across the UK see buying and selling a home as stressful. Selling is seen as the slightly more stressful of the two, with 70 per cent agreeing that this was the case, compared to 69 per cent for buying. 

The only thing Brits will go through that is considered a more trying experience is divorce, with 78 per cent of respondents saying that this was a stressful experience. Coming behind buying and selling homes was arranging care for an elderly relative, having a child, changing jobs or getting married.

There was also a gender divide with regards to how property transactions can make Brits feel. According to the survey, some 75 per cent and 73 per cent of women respectively found selling and buying a home stressful, compared to 66 per cent and 67 per cent of men respectively. 

However, Which? Mortgage Advisors have said that much of the stress that experienced when it comes to dealing with property can be caused by people themselves, insisting that there are steps that can be taken to make it a more calm and enjoyable experience. 

Things such as setting realistic expectations on timescales - remembering that buying and selling is part of a chain of transactions - and prices, can be a good way to lower the strain of property transactions. 

On top of this, seeking advice can be a great way to make sure the process is smoother from the point of view of buyers and sellers. Most people are not experts when it comes to dealing with these processes, so speaking to mortgage advisors, financial experts and estate agents can be a good way to get to know the ins and outs of the processes involved. 

When understanding how everything works, people will generally feel less stressed about going through it all, making for a more enjoyable process for purchasing or selling a home. 

"We're a nation obsessed with home ownership, but when it comes to buying or selling, our research shows that it can be an incredibly stressful process. Thankfully there are a number of things you can do to reduce the strain, including speaking with a mortgage adviser early on to get your finances in order," said David Blake at Which? Mortgage Advisers.