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

SortRefer launches snagging reports service for new-build buyers

SortRefer has launched a snagging reports service to help brokers support clients buying new-build...

Why complex-income borrowers need more adviser support

The UK mortgage market has become more complex for borrowers, lenders and advisers alike....

CIExpert partners with Succession Wealth on protection advice

Protection research platform CIExpert has entered into a strategic partnership with Succession Wealth aimed...

Foreign exchange moves into focus as advisers urged to act earlier in mortgage process

Rising use of overseas funds in UK property purchases is increasing the need for...

Open Property roadmap aims to cut delays and fall-throughs in homebuying

The Centre for Finance, Innovation and Technology (CFIT) has unveiled a new Open Property...

Latest publication

Other news

SortRefer launches snagging reports service for new-build buyers

SortRefer has launched a snagging reports service to help brokers support clients buying new-build...

Why complex-income borrowers need more adviser support

The UK mortgage market has become more complex for borrowers, lenders and advisers alike....

CIExpert partners with Succession Wealth on protection advice

Protection research platform CIExpert has entered into a strategic partnership with Succession Wealth aimed...