If you want stress, buy a house

Published on

House buying tops the table of ‘most stressful life experiences’ with 24% of homeowners finding it the most demanding and stressful thing they have done, according to new research from Unbiased.co.uk, the website which promotes the benefits of professional advice.

Buying a house topped the poll, ahead of starting a new job (14%), having a child (13%) and getting married (9%). House buying remained the number one stressful life experience for all ages – rising to 37% of those aged between 20 and 29, and 24% of those aged 70 or over.

Instead of getting easier with experience, moving up the property ladder appears even more stressful than entering it, with 41% of second time buyers finding buying their second home as or more stressful than their first. The fact they were part of a chain made it more stressful for 27% of second time buyers, which rose to 42% of those aged between 30 and 39.

Almost one sixth of second time buyers (16%) felt it was a bigger decision than their first purchase as it was a property for the long term. 7% of second time buyers separately sold their first house and rented before entering back into the property market, just to avoid being part of a chain.

Finding the right property was the most stressful part of the house buying process for 35% of homeowners, rising to 47% of those over 70. 20% of homeowners found moving in the most stressful, and 12% felt it was getting and arranging a mortgage.

Karen Barrett, chief executive of Unbiased.co.uk said: “Buying a house is a stressful experience. So much time and effort is invested into finding the right home it is no surprise people find it more stressful than having a baby! Buying a home is probably the most expensive decisions you will ever make and involves lots of complicated stages. But there are some simple things you can do to take at least a little of the stress out of buying a home.

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Millions of households exposed to financial shocks despite apparent stability

Millions of UK households that appear financially secure could struggle to absorb an unexpected...

The Mortgage Hut adopts Instamo tool to speed up mortgage applications

The Mortgage Hut has introduced Instamo's FastSubmit technology to reduce the amount of manual...

FCA sets out timetable for major expansion of anti-money laundering supervision

The FCA expects to begin taking over anti-money laundering supervision of legal, accountancy and...

MAB revenue rises as refinancing drives mortgage completions

Mortgage Advice Bureau reported an 8.6% increase in first-half revenue to £161.0m as higher...

FCA warns consumers over pressure tactics in debt advice market

The Financial Conduct Authority has warned consumers to be alert to firms using pressure...

Latest publication

Other news

Harpenden’s expat move could be bigger than the numbers suggest

Harpenden Building Society’s move into expat mortgages this summer has been good news for...

Millions of households exposed to financial shocks despite apparent stability

Millions of UK households that appear financially secure could struggle to absorb an unexpected...

The Mortgage Hut adopts Instamo tool to speed up mortgage applications

The Mortgage Hut has introduced Instamo's FastSubmit technology to reduce the amount of manual...