Buying a House is Stressful – Follow These Tips to Manage the Anxiety and Secure Your Dream Home

By Jeffrey M. Ruben | Published: June 2020

You’ve been dreaming about it, thinking about it, and now the time has come to start looking for your new home. It’s an exciting moment in your life, but then reality sets it – you need to get a mortgage. And a realtor. And the stress begins.

The reality is, buying a home is one of the most important financial decisions you can make, and it does come with its fair share of stress. In fact, a recent WSFS Mortgage Study found that 74% of Delaware and Greater Philadelphia region residents find the homebuying process complicated and nearly two-thirds consider buying a home more stressful than getting married!

As stressful as buying a home may be, it should also be a cause for celebration. Remember, buying a home is incredibly rewarding and the culmination of a lot of hard work, determination and dreaming.

Here are a few tips to help alleviate the stress and anxiety of the homebuying experience.

Rely on Established Relationships
Having a well-established relationship or rapport with the key players in your homebuying process can go a long way toward a smoother experience. Have a friend or family member who has bought and sold homes before? Lean on them for advice and pointers from their experiences. Better yet, do you know someone in the real estate business? They could give you expert advice and maybe even be your agent. The WSFS Mortgage Study found that 77% of people are anxious about finding the right agent to guide them, so having someone you trust is a great start to your home search.

When it comes to financing your purchase, use well-established financial relationships such as your local bank branch to inquire about their mortgage process. They can also help get you set up for an appointment with a licensed mortgage advisor who can walk you through the steps, from pre-qualifying to settlement.

When you meet with an advisor, make sure you ask pertinent questions about the process, how long it takes to get pre-qualified and approved, and what fees you should expect.

Assess What Is Most Important to You
This may seem like a no-brainer, but by zeroing in on what you really want and need out of your new home, you can reduce anxiety over budget, location, and other factors. The WSFS Mortgage Study found that the top drivers of homebuyer anxiety are; locating the right house at the right price; finding the right financing; finding someone to guide them through the mortgage process; and putting funds together for a down payment.

Most likely, those stressors are high on your list as well, so rank your priorities and must-haves for a home, such as:

• Price range/mortgage payment
• Location
• Commute distance
• Schools
• Access to transportation
• Number of bedrooms/bathrooms
• Floor plan style

Work with your realtor and mortgage advisor to find a balance among your priorities – remember, they are your trusted resource.

R-E-L-A-X
Don’t worry, you’ve got this. With your priorities ranked, realtor and mortgage advisor in place, and budget established, the stage is set for a more enjoyable house hunting experience. Besides, there are more important things to stress about, like getting your new house (and pool!) ready for summer guests!

Looking to buy a home, refinance or make upgrades? Visit our Mortgage Center to learn more.

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About the Author – Jeffrey M. Ruben
Jeff Ruben joined WSFS through its acquisition of Array Financial, a full-service mortgage banking organization, and Arrow Land Transfer in August 2013. Prior to forming Array and Arrow, Jeff served as Executive Vice President of American Business Financial Services, a publicly traded national mortgage lender.