Buying a property in the UK is rated as more stressful than having a child or starting a new job and it doesn’t get any better the more you do it, according to research.
One in four homeowners, some 24%, said buying a house was the most stressful experience of their lives, followed by starting a new job, 14%, having a child, 13%, and getting married, 9%. And 41% of second time buyers said buying their second home was just as or even more stressful than buying their first.
Actually finding the right property to buy in the first place was the most stressful part of the house buying process for one in three, 35%, of home owners told the survey conducted by unbaised.co.uk, the professional advice website.
Although buying a property was the most stressful life experience for all ages it is more so for younger people, the survey also shows. Some 37% of those aged between 20 and 29 said it was the most stressful thing compared with 24% of those aged 70 or over.
Also 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, some 16%, felt it was a bigger decision than their first purchase as it was a property for the long term. Some 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.
One fifth, some 20%, of homeowners found moving into their property the most stressful, and over one in ten, 12%, felt it was getting and arranging a mortgage.
‘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,’ said unbiased chief executive Karen Barrett.
‘But there are some simple things you can do to take at least a little of the stress out of buying a home. With over one in ten homeowners finding getting and arranging a mortgage the most stressful part of the process, seeing a whole of market mortgage adviser is a good step in getting help and advice. They have access to products from the whole of the market, ensuring that you find the best possible mortgage for you,’ she added.