How To Manage The Stress When Buying or Selling A House In Roseburg

How To Manage The Stress When Buying or Selling A House In Roseburg

Buying or selling a house is the largest single transaction most of us will ever make. And on top of that, it involves all kinds of important decisions… and then there’s that most dreaded of all tasks: moving. It’s no wonder the whole process is usually filled with so much stress and anxiety. But, really, it doesn’t have to be that way if you know what to do and understand all that is involved. So here’s our guide to managing stress when buying or selling a house in Roseburg.

Understanding the Causes

It really doesn’t matter whether we are considering the stress that accompanies buying or selling a house, in {market_city},  there are some major common causes of that stress. And understanding the causes is a first step toward avoiding it. Much of the stress buyers and sellers experience is caused by three things: the endowment effect, loss aversion, and irrational fear.

  • The endowment effect involves buyers and sellers allowing their “subjective feelings to interfere while negotiating the price of the house. The seller may place too much value on this own house, while the buyer may feel that the price is too high even if the house is adequately priced. This results in stress for both parties as they are not getting an offer at the price they feel is right for them.”
  • Loss aversion is a term used to describe the emotionally driven efforts of buyers and sellers to concentrate on avoiding loss rather than striving to get the best deal. “This loss aversion keeps the seller from holding on to a better price while a buyer may close the deal early just to avoid losing out to other buyers.”
  • Irrational fear is also common among both buyers and sellers. Basically, it’s fear of the unknown, which “results in stress that interferes with their ability to negotiate for the best deal for the house.”

The key, then, to avoiding stress when buying or selling a house in Roseburg is to change your mindset. Get rid of negative thoughts, be patient, and hold out for the right deal. Here are some simple steps you can take as well.

Stress Management for Home Buyers

Whether you’re buying or selling a house in Roseburg, there are some effective ways to head off and manage the stress. Let’s start with what buyers can do:

KNOW WHAT YOU WANT

If you know exactly what you want, you can narrow your search and save tons of effort and time (and even some money). Before you even go house hunting, make a list of your “must-have” features, and then make a second list of your “like-to-have” features. That way, you can narrow and shorten the search process, and you’ll also know exactly where you can and can’t be flexible.

The home you buy should have most or all of your “must-have’s” and some or most of your “like-to-haves.”

GET PRE-APPROVED

Getting pre-approved for a mortgage loan can reduce stress significantly. Why? Your lender will tell you exactly how much you can borrow so you’ll know which homes you can consider. You also won’t have to wonder if you can get financing once you’ve found a home you like. In addition, pre-approval will give you more negotiating leverage because you’ll be perceived as a serious buyer.

DON’T TAKE ON NEW DEBT AND SAVE $$

If you take on new debt like buying a car, boat, or even furniture after getting pre-approved, guess what? Your pre-approval agreement may be down the drain. Lenders pre-approve you on your debt-to-income ratio at the time so don’t take on new debt during this time. Also, continue to pay down your existing debt as well.

Keep saving so that you’ll have the down payment as well as money for the many other expenses. Nothing relieves stress like knowing you have a little extra money to do what you need to do.

BE FLEXIBLE

Rigidity is often the source of a lot of stress for home buyers. “While it’s good to have a list of must-haves,” the pros advise, “you should also keep in mind that there’s no such thing as the perfect house, not unless you have the means to design and build a custom home from the ground up. And while you shouldn’t compromise on important requirements, you need to be able to let go of the small things. Be flexible.”

USE A GOOD EXPERIENCED LOCAL AGENT

Perhaps most important for managing stress is having a good local real estate agent with lots of experience. Your real estate agent’s expertise will help guide you through the whole process, helping you avoid the financial pitfalls. The Sky Team agents are experts and can guide you through the housing market, helping you find a home that matches your main criteria. We can make use of their personal and professional connections to open up listings that you otherwise might not have access to. We can also recommend adding certain contingencies, or conditions that should be met, on your purchase offer in order to protect your interests.

Regardless of whether you use a Sky Team agent or another, make sure you are comfortable with their experience level before going into contract with anyone.

Stress Management for Sellers

Selling a house in Roseburg involves some similar measures to manage stress. These include:

STARTING EARLY

Some sellers will take several months, or even years, to prepare their home for a sale. So if you plan to put your home in the market, start early. Shop around for a listing agent, make obvious repairs, and have renovations made if necessary.”

BEING PREPARED TO WAIT

Although the first handful of weeks your home is on the market is the critical period for getting an offer, outside factors can cause it takes several months for the entire process of selling a home to reach the closing table. This realization can help you adjust your timetable expectations accordingly and help you avoid a lot of stress too.

KEEPING EMOTIONS OUT OF IT

As we mentioned above, emotional responses are the source of a lot of stress for sellers. So do what experienced home sellers advise: approach “the negotiation table with a sense of detachment to help relieve stress. Look at selling your home as a business transaction.” Bottom line, don’t allow yourself to get easily discouraged or offended if things don’t go that way you want them to or if you get a low offer. It’s just how it is.

HIRING A GOOD AGENT

Again, whether you’re buying or selling a house in Roseburg, hiring a good and experienced agent is a surefire way to reduce stress. Why? An experienced listing agent knows how to market your home and give it maximum exposure. They will also protect your interests during negotiations. Working with one will give you the guidance and support you need. Another great reason to interview multiple agents before signing a listing.

The Value of a Good Agent

As you can see, there are both psychological tactics you can deploy and practical steps you can take to manage stress during the process of buying or selling a house in Roseburg. A common element of stress management for both buying and selling is using an experienced local real estate agent. Really, it’s too big a risk not to use one.

Find out how our agents can help you when buying or selling a house in Roseburg. Contact us today at 541-643-1131!

Connect With Us!

If you're looking to buy or sell a property connect with us today!

How Can We Help You?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
    (check all that apply)
  • This field is for validation purposes and should be left unchanged.