There’s a lot to think about when you’re trying to get on the property ladder so it’s natural to feel some first time buyer anxiety. But while there are reasons why buying your first home can be stressful there are lots of things you can do to take the pressure off. That’s why we’ve put this article together to explain what can cause first time buyer anxiety and how you can overcome it.
First time buyer anxiety: what causes it?
Buying your first property can feel a bit overwhelming. You’ll have lots of decisions to make right from the start like how much to offer for a property. And these decisions keep coming. For example after you've had an offer accepted on a house you'll need to decide which type of survey to get - and what to do if your survey reveals problems. And buying a home isn’t just a financial transaction, emotions can run high and you might feel a real disappointment if things don’t go your way.
But it’s important to try to not let this stress spoil your enjoyment of the process. Being a first time buyer and getting on the property ladder is a huge and exciting step and we believe it’s something that should be an enjoyable experience. The key is to take charge and do everything in your power to reduce the stress.
So how can I make being a first time buyer less stressful?
When you’re buying a property there are lots of steps you can take to reduce your stress levels. These include:
Seeking help from friends and family
It’s a good idea to speak to loved ones who've either bought or are buying a property. They may be able to offer you advice based on their experience. And by airing your worries it means you won't be keeping your stress bottled up. By chatting it through you might realise the problem isn't as bad as you had first thought. And if nothing else, you'll know they got through it so you can too!
Asking for advice
But while friends and family can be a source of support during the buying process it’s a good idea to seek professional advice when it comes to your mortgage for a number of reasons. Firstly, by speaking to an expert mortgage adviser at the outset you’ll know how much a lender is likely to lend to you before you start house hunting. This means when you find your dream home and make an offer you won’t have the added stress of wondering whether you’ll be able to get a mortgage if your offer is accepted. And when it comes to choosing a mortgage your adviser will search through thousands of mortgages to find the right mortgage for you. Plus they’ll guide you through the process. And getting this help means you'll remove a huge source of stress!
Focusing on the task in hand
There's a lot to think about when you're buying a house so you'll want to ensure you don't get overwhelmed. Try to focus on what you need to do right now and not what could go wrong in the future. So if that’s choosing the right mortgage deal, then focus on that. Once that's done move onto the next thing you need to do. And so on.
Let us help
We know how daunting being a first time buyer can be. But the good news is we have a team of mortgage advisers who can help you. So whether you’ve had an offer accepted on a property and are looking for a mortgage or if you’re not sure where to start, phone us today on 01603 405070 or click here to arrange a call back.