Moving house is the most stressful life event, with buyers and sellers citing waiting to exchange as the biggest bugbear.
Research from Legal & General reveals the average Brit moves four times in their life – and its poll of more than 1,000 homebuyers found it is more stressful than having a child or getting divorced.
For the first time in a decade, the number of annual home sales has exceeded 1 million, and for a variety of reasons – from changing lifestyles to wanting more space.
A key stress factor for more than half (58%) of respondents was paying over budget for their most recent property although a third (33%) wished they’d saved more before committing.
Other reasons for stress included not having enough money to cover unexpected or hidden expenses while 37% said they hate packing and unboxing.
A third of respondents said waiting to exchange contracts and finding a new property were the most difficult aspects of buying.
Four in 10 said their reasons for moving involved needing more space while 26% said it was for a change of scenery or lifestyle.
The stress of having to wait between three and five months to complete on the move was the most stressful aspect of 46% of home buyers.
Other stress inducers were anxiety, sleep deprivation and arguing with a partner.
A quarter also found that calculating the upfront costs was the most difficult aspect of the homebuying process, while 21% said getting a deposit together was the biggest struggle.
More than 1 in 4 (27%) of those aged 18 to 24 said they would not consider moving again – the highest of any age group.
Despite all challenges, a majority (84%) of adults polled said they would still consider moving again in the future.
A third of respondents said they would want to understand the complexity of buying a property more thoroughly the next time they move, while others would ensure they put more money aside.
Sheldon Bosley Knight’s sales manager Morgan Rhys said: “Moving has a reputation as being stressful as there are so many things to consider and ways in which stress levels can be impacted.
“However, there are ways to mitigate it – such as making sure you have a mortgage agreement in principle and your legal paperwork up to date.
“At Sheldon Bosley Knight we promise to be with our buyers and sellers every step of the way and help to reduce any stressful situations. We are here to offer advice and help at all stages of the journey and remind you of your obligations and responsibilities as well as what you need to do and when.
“Through us you will have access to conveyancers, mortgage advisors, a checklist for do’s and don’ts as well as our agents’ expert advice and support.
“Pop into one of our branches and find out how we can help get you moving with minimal stress.”
Ways to minimise stress in the house selling and buying process.
- Be sale ready – make sure you get your mortgage in principle set up before you start looking for a house to buy.
- Get all your legal paperwork set up right at the beginning.
- De-clutter as much as you can before you move.
- Make sure your home is clean and tidy before you put it on the market.
- Choose a reputable solicitor, conveyancer and mortgage provider – if you don’t know any, please contact us at Sheldon Bosley Knight as we can help.
- Factor in expenses such as stamp duty, estate agent fees and removal costs and if you can, add in a contingency budget in case you need to get any repairs or work done to your existing home – or the new one.
- Remember to set up forwarding address details with the post office, inform your bank/building society and all your utility providers and get meter readings prepared.
- Get a removal firm in to help you pack and move or hire a van if you don’t have much to move.
- Book time off work, inform your children’s schools and remember to think about how to move your pets if you have any.