Resources | Ottawa House and Condo Hub

Six ways to beat the stress of buying a home

Six ways to beat the stress of buying a home - Ottawa House and Condo Hub

DEATH, DIVORCE & MOVING are some of the most stressful experience in one’s life. There are two very different kinds of needs that people have while moving. First there are the transactional needs, like finding the home that is just right for you, finding a seller who is realistic, negotiating the price, filing out the paperwork, handling the closing, and arranging for the move. But there are also emotional needs that are involved when moving, and this is where the biggest stress comes in. A competent agent will handle the transactional needs for you, but if your emotional needs are unfulfilled, you could become frustrated. The ideal real estate agent is one, who is competent with paperwork and numbers, but can also guide, direct, and counsel you through the emotional ups and downs of moving. Here are the six best ways we’ve found to beat the stress.

1. Begin with the end in mind. Have an ultimate scenario of where you’re trying to be. What will life be like when you get there? How will it be better than where you are now? Dwell on that picture and write it out, fill up at least a page about how it feels in this new place. This is imperative. Having the goal in front of you at all times energizes you to achieve it, in spite of setbacks and frustrations. Emotions will run high and you may need an anchor. Focus on the future goal should anxiety threaten to get the better of you.

2. Be flexible. In your monetary calculations, it is better to overestimate. It could be the inspection reveals areas of concern that the seller is unwilling to fix or the repair costs are higher than expected. A fluctuation in interest rates can also adjust monthly costs. Most buyers feel a bit overwhelmed when taking on a new mortgage and the responsibilities of a new home. Anger is caused when reality doesn’t match up with the expectations you had in your mind. So if you anticipate this happening in advance, you won’t get angry. In fact, it’ll probably go better than you expected.

3. Trust in the process. There’s just so much to do, it’s easy to panic. You wonder if it will ever work out. You think you’re taking a big chance, but the truth is you’re giving yourself a big chance. Even though you can’t see every step of the way, as you move towards your goals, the way opens up. Moving is a major upheaval in your life, keep your eyes on the big picture.

4. Get knowledge. It may feel like everyone else has taken over your life. The seller, your lender, the appraiser, the inspectors, they all have the power to say yes or no to your moving plans. A Realtor can educate you and let you in ‘behind the scenes’ so you won’t ever feel out of control. Never feel afraid to ask questions and get the knowledge you need to feel comfortable.

5. What is your option? When things don’t go as smoothly as you had hoped, don’t let emotions take over. Always ask yourself ‘what is my option?’ because there are always options. Let’s pretend the lender takes longer than agreed upon to get your loan. He keeps asking you for more and more documentation until it feels like he also needs to know how many gold fillings you have in your mouth! You may want to say ‘Forget it; I’m fed up with this!’ But what is your option? Find a new lender and you start the process over again? That may take weeks, plus you will have to provide the paperwork all over again. If the lender is trying his best, it may be better to give him a few more days. Each case is unique, but when setbacks occur we’ve found that asking yourself this question helps to defuse the situation and restore clear headed thinking.

6. Seek entertainment. When there’s nothing you can do about the situation, take your mind off of it altogether. Maybe you expected loan approval on Friday, but now it won’t come until Monday. You hate being in limbo and feeling powerless. So do something else entirely, maybe something where you aren’t powerless. Take a hike, play tennis, get out of town for the day, watch a movie, or pour yourself into your work. Whatever diversion works best for you now would be a good time to engage in it. Just take it one day at a time.