Simply Nerdy Mom: Why Buying A House Is Bad For Your Mental Health!

Tuesday, October 27, 2020

Why Buying A House Is Bad For Your Mental Health!

 


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You've been drawn in by the title, and you're probably expecting a weird article on why nobody should ever buy a house. Sorry to disappoint, but that's not what we'll be discussing today! Yes, buying a house is bad for your mental health. There's really no argument against that - just talk to anyone that's ever bought a house. This doesn't mean you should avoid buying one as it can be very beneficial for your family. Plus, the negative effects on your mental health are temporary as they ease once the house is bought. 


This is a collaborative post


I want to look at things from a slightly different perspective. You'll see a list of the main reasons buying a house is bad for your mental health, along with suggestions to keep yourself sane. In essence, I'll show you how to buy a house without letting it put a massive strain on your mental wellbeing


So, let's get stuck in!

Saving money for a house

Trying to save up for a house is incredibly stressful. It's very easy to have negative thoughts as you see house prices and assume you'll never be able to afford anything. Some people go to extremes and save far too much money every month. Is there such a thing as saving too much money? Yes, it means you barely have enough in your current account to pay for food and essentials. So, you start eating less and your physical health suffers along with your mental wellness. 


How can you cope with all of this stress? To begin, work out how much money you need to save to make a down payment on the house. Use a site like MortgageCalculator.Org to figure out the total cost of the mortgage and any down payments. This lets you understand how much you actually need to save. It will surprise you to learn it's far less than you expected. From here, you can set a goal and aim to save the money by that point. Who knows, you may already have enough stashed away to afford the home of your dreams!?



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Finding the right properties

Searching for the ideal homes can be a massive struggle. You spend all day scouring the internet for different property listings. At night, you refresh the same page hoping to find new properties. It can be very stressful as it feels like there aren't any houses out there that suit your needs. So, you get the sense that you keep wasting time every single day. As a result, you're twice as stressed and mentally drained!


The solution to this problem is easier than expected. All you have to do is find an estate agent to work with. Real estate agencies are set up to help people sell their homes. Therefore, they already have access to loads of properties that might be perfect for you. Let your agent know all of your requirements and where you want to live. Then, you can go away and get on with your life while they do all the work. If they find suitable properties, they'll let you know right away. It means you don't have to stress and worry about missing good houses or not being able to find any. They handle it for you, and you pop along for viewings as required. 

Negotiating the price

Once you've found a home, it isn't as simple as paying for it and moving in. You have to deal with the bidding process where you work out how much to pay. Houses rarely sell for the listed price as most people are willing to sell for less. You'd think this was good, but it makes things harder. Now, you have the stressful act of negotiating the price with the seller. It can be a constant back and forth of submitted and revised bids, putting a huge toll on your mental health. Again, you lay awake at night worrying that they'll cease negotiations and refuse to sell the home. So, you ponder spending too much money just to secure the deal. 


Don't do all the mental gymnastics in your head! Instead, let your estate agent deal with this. They have experience negotiating house prices, so allow them to take control. Or, do some online research to work out how to negotiate prices when buying a home. Look at this YouTube video for some instant tips:


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Delays, delays, delays!

Delays can happen when buying a house, usually thanks to a lazy seller. The price can be agreed upon, but you still have some legal issues to contend with. Contracts have to be drawn up and signed, meaning you're left waiting around for a long time. It can take weeks before a seller finally signs a contract or submits the information you require. As you can imagine, this is terrible for your mental health. You're at a high after the bid was accepted; now you're at a massive low as the days keep on falling by. What's taking them so long? Is this going to fall through, leaving you at square one? It's easy to have a mental breakdown in situations like this!


Sadly, this is the hardest thing to influence or change. The only option is to get your legal advisors to press the other person as much as possible. Sometimes, sellers can simply forget to sign things or get back to you. As infuriating as that sounds, you have to consider how busy they might be. While you're worried about buying this house, they're stressing about moving all of their things into a new house. Or, they might have another house to buy before they can sell. So, a friendly nudge from your solicitors can help speed things along. 


As you can see, buying a house is bad for your mental health in many ways. It takes you on an emotional journey with lots of downs and one massive up at the end! Still, don't avoid buying a home as it can be very helpful for your family. Instead, focus on ways to combat the main stressors and make the situation less of a mental burden.


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