Buying a home — whether it's your first home or fiftieth — can make you want to scream. Two-story or ranch... open houses... budgets. So much to do and so many choices. What's a home buyer to do?
You're more than likely making the biggest financial decision of your life. It's natural to feel stressed and overwhelmed until everything falls into place. The good news is that there is plenty you can do to alleviate the stress and keep your focus on the main goal — buying your dream home.
Here are six steps to ease home buying stress:
- Set House Hunting Goals
Finding the right home for you will be much easier when you have a clear picture of the type of home you're looking for. Decide what is important to you. List out your basic requirements for a home, like the number of bedrooms and bathrooms, square footage, yard, neighborhoods, school districts, and anything else that will factor into your final decision.
- Understand Your Budget
Understanding your finances is an important part of buying a home. Without loan pre-approval and realistic budgets, you may lose out on your dream home. Before you start your home search, get pre-approved for your loan, secure the cash for your down payment and educate yourself to understand the whole financial picture of buying a home.
- Get Pre-Approved for Your Mortgage
All home buyers should strongly consider obtaining mortgage pre-approval when diving into the real estate market. Mortgage pre-approval will significantly reduce the stress of buying a house because you won't have to worry about financing once you find the right match. Home sellers prefer pre-approved buyers because it shows that you are a serious shopper from the start.
- Don't Take It Personally
Sellers are looking for the best offer, and at times, yours will not be it. Sometimes, sellers just are not ready to sell even if an offer is perfect. Look at rejection as an opportunity to find something even better. You never know what house is right around the corner.
- Have a Timeline
Buying a home is certainly a process, and it starts long before you start negotiating the terms of a sale. In addition to making a list of your desired features for your new home, it helps set a rough timeline early in the process. Having a general idea of when you want to take each step and how you want to see things progress is a great way to limit stress, even if some steps take longer (or shorter!) than you expect.
- Take a Break
Buying a home can consume you. Make sure you are taking time to do something else every once in a while. Take a break to go work out or have coffee with a friend. When it feels like all you're doing is eating, breathing, and dreaming about new houses, it is probably time to go have a little fun.
Buying your first home can be a wonderful journey with the right plan. Following these steps can help you feel calm and confident when closing day comes.