House buying tops the table of ‘most stressful life experiences' with one in four (24 per cent) homeowners finding it the most demanding and stressful thing they have done, according to new research* from Unbiased.co.uk, the professional advice website.
Buying a house was listed top at 24 per cent, ahead of starting a new job (14 per cent), having a child (13 per cent) and getting married (9 per cent). House buying remained the number one stressful life experience for all ages - rising to 37 per cent of those aged between 20 and 29, and 24 per cent of those aged 70 or over.
Instead of getting easier with experience, moving up the property ladder appears even more stressful than entering it, with 41 per cent of second time buyers finding buying their second home as or more stressful than their first. The fact they were part of a chain made it more stressful for 27 per cent of second time buyers, which rose to 42 per cent of those aged between 30 and 39.
Almost one sixth of second time buyers (16 per cent) felt it was a bigger decision than their first purchase as it was a property for the long term. Seven per cent of second time buyers separately sold their first house and rented before entering back into the property market, just to avoid being part of a chain.
Finding the right property was the most stressful part of the house buying process for over a third (35 per cent) of homeowners, rising to 47 per cent of those over 70. One fifth (20 per cent) of homeowners found moving in the most stressful, and over one in ten (12 per cent) felt it was getting and arranging a mortgage.
Karen Barrett, chief executive of Unbiased.co.uk said, "Buying a house is a stressful experience. So much time and effort is invested into finding the right home; it is no surprise people find it more stressful than having a baby! Buying a home is probably the most expensive decision you will ever make and involves lots of complicated stages. But there are some simple things you can do to take at least a little of the stress out of buying a home."
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Date: 26th, January, 2010 |
Author: Ben Wilkie |
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