My husband and I are currently in the market of buying a new house and is stressful but fun. The fun comes from finding the perfect home while the stress is finding the perfect home, that has everything we need. However, having a realtor has significantly dropped the amount of stress.
How buying a house is more stressful than bankruptcy, divorce and even the death of a loved-one, according to poll
- Fears the deal could collapse and slow lawyers ranked worst stresses
- Selling a property seen as more stressful than buying one, survey finds
- But half of those polled said they had a stressful experience while buying
With prices rocketing, jitters about interest rates, and fears of an imminent collapse, there really has never been a more nail-biting time to dabble in the housing market.
So it’s perhaps no surprise that a new poll shows that buying a house is more stressful than bankruptcy, divorce or even bereavement.
The survey found that a large percentage of adults said getting involved with the property market is one of modern life’s most unpleasant experiences.
People look at properties advertised in an estate agent’s window in London: Buying a house is more stressful than bankruptcy, divorce or even bereavement, making it one of life’s most unpleasant experiences, a poll says
Dealing with solicitors and paperwork for weeks on end, fears the deal could collapse at any moment and constantly chasing estate agents for updates was ranked as more traumatic than getting sacked.
In the list of the most stressful lifetime events, the research found the stress of selling a house came above the levels experienced when losing a job, becoming a parent or planning a wedding.
Solicitors bore the brunt of the discontent among those who took part in the study. They were labelled as the most stressful people to work with, while over a quarter had bad experiences with an estate agent.
The research also found people were more than twice as likely to feel selling a property was more stressful than buying one due to having to keep the house clean for constant viewings.
Prospective buyers cancelled viewings on a third of those trying to sell, while 42 per cent received derisory offers.
Over a quarter suffered from a lack of updates from the high street estate agents in the major bug-bears for those trying to sell their home.
Trying to get hold of solicitors in office hours also emerged as a major pain.
For sale: Estate agents came off really badly – in fact when it comes to selling their home to potential buyers four in ten thought they could do a better job than an estate agent
A weary one in seven had seen a property move collapse because of a poor estate agent and the same number had pulled out of a deal because of their rising frustration levels.
And exactly half of those polled said they had a negative experience when buying a home.
The same number were convinced their property transaction would have been smoother if those involved (lawyers, lenders, estate agents) had communicated more efficiently.
THE 10 MOST STRESSFUL EXPERIENCES IN MODERN LIFE
1. Buying or selling a property
2. Relationship break-up/divorce
3. Being made redundant
4. Death of a grandparent
5. Getting the sack
6. Being in debt
7. Starting a new job
8. Becoming a parent for the first time
9. Planning a wedding
10. Going broke / bankrupt
THE 10 MOST STRESSFUL ASPECTS OF SELLING A PROPERTY
1. Slow solicitors
2. The risk of it falling through
3. The huge sums of money at stake
4. All the documentation to complete
5. Endless phone calls
6. The survey
7. Difficult vendors
8. Difficult estate agents
9. Being gazumped at the last minute
10. Disruption caused to your working day
A disgruntled 45 per cent thought their solicitor or conveyancer dragged their heels and seven in ten were hit with lengthy delays and unexpected frustrations in their last property transaction
Estate agents came off really badly – in fact when it comes to selling their home to potential buyers four in ten thought they could do a better job than an estate agent.
A spokesman for EstatesDirect.com, which commissioned the research, said: ‘The results show just how gruelling the process is regarded and clearly it’s viewed among the most stressful events we encounter in modern life.’