There’s no doubt about it: Buying a house is an emotional rollercoaster. It’s overwhelming and exhausting. Contrary to what people usually do, which is to brush aside their feelings, the key to managing stress is to recognize your emotions. By acknowledging such emotions, you’re able to get your heart off and put your rational mind in your decisions. That said, here are the emotional phases of buying your first home:
Phase 1: Enthusiasm
Slowly, the decision to move to a house and ditch renting creeps in on you. With stable bank savings and a good credit, you feel positive about this move. So, you find yourself frequenting property websites and Pinterest boards of modern kitchen designs. This is a good feeling, but what you need to watch out for here is the possibility of being unrealistic.
You may overestimate your budget or think of stretching it just to accommodate your dream house. When you nurture this emotion, you may be putting yourself in a house that’s a money pit in the long run. At this point, keep the enthusiasm, but list down the essentials and keep yourself informed of the best mortgage rate. Salt Lake City experts can help you with this.
Phase 2: Anxiety
As you scour neighborhoods, you’ll probably find yourself in competitive markets, going up against other homebuyers’ bids. Or, you might see houses that don’t just meet your lifestyle needs. Not to mention the fact that you’re juggling house visits with other responsibilities and trying to secure a mortgage. This can increase anxiety levels.
At the core of anxiety is uncertainty. To fight your fear of the unknown, partner with people who& know.& Consult a realtor and go to different lenders. The more you know, the lesser your anxiety goes.
Phase 3: Doubt then Relief
Once you receive an accepted offer for a house that you liked, you’ll feel overjoyed, but at the same time, get a sense of hesitation about pushing through. You start to question, "Have we looked at enough houses?" or "Are we financially ready for this?" But once you retrace your steps and found that you ticked off every homework, you’ll get a sense of relief that this is it.
Remember these emotional stages of buying a house. Be level-headed as much as possible as you go through each phase.