Which is more stressful, buying or selling a house?

Which is more stressful, buying or selling a house?

New research from Which? Mortgage Advisers has revealed that buying and selling property is one of the most stressful life experiences - more so than having a child and second only to going through a divorce. But which was considered worse?

In a survey of nearly 2,000 members of the general public, respondents were asked to rate how stressful they found each of life's major events, ranging from going through a divorce to buying a new car.

The Stress List:

Divorce: 78%
Selling a house: 70%
Buying a house: 69%
Arranging care for an elderly relative: 68%
Having a child: 53%
Changing jobs: 49%
Getting married: 40%
Finding a school for your child: 36%
Retiring from work: 22%

While going through a divorce came out on top of the list of life's stresses, with four in five people (78%) considering it stressful, buying and selling property followed closely behind, with seven in 10 people (69 and 70% respectively) finding either process nerve-wrecking.

Buying or selling a property was considered more stressful than: arranging care for an elderly relative (68%); having a child (53%); changing jobs (49%) or getting married (40%).

The research also reveals that women found both buying and selling a property more stressful than men. Three quarters (75%) of the women we surveyed told us they found selling a property stressful, whilst only two thirds (66%) of men felt the same. These figures were mirrored when it came to buying a property, with 73% of women finding the process stressful as opposed to 67% of men.


Top Tips to help reduce the strain if you're buying a property:

1. Know the process - Buying and selling may involve being part of a chain of buyers and sellers, so be realistic about timeframes and when you can expect to move.

2. Invest in good mortgage advice – While seeking assistance from mortgage advisers may cost you, it is likely to save you money in the long-run. Choosing a mortgage isn't just about finding the lowest rate, it's about finding a mortgage that's right for your personal circumstances.

3. Make life easier with a reliable mortgage lender – When choosing a lender, consider their reliability, range of products and the overall costs, rather than just the initial cost alone.

4. Consider service as well as cost of conveyancers – Invest in a quality conveyancer or property solicitor. While often online companies are cheaper, they don't always offer a full service.

5. Ease your worries by staying informed – Don't just leave parts of the process to professionals, you'll be less worried if you build good relationships with those involved in the process and know what needs to be done and when.

6. Know your limits to avoid future issues – Try not to over stretch yourself for that 'dream property'. If you end up in arrears, you may have financial trouble for many years.

David Blake at Which? Mortgage Advisers said: “We're a nation obsessed with homeownership, but when it comes to buying or selling, our research shows that it can be an incredibly stressful process. Thankfully there are a number of things you can do to reduce the strain, including speaking with a mortgage adviser early on to get your finances in order.

Investing in good mortgage advice will ensure you find the best mortgage for your personal circumstances. To help avoid unnecessary stress when you're getting a mortgage, do ask about the reliability and service levels of any lender you're considering.”

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Latest Comments

SecomTech
SecomTech 19 Aug 2016

Firstly, I either lodge with DPS or do not take a deposit...secondly, If a tenant has not received a confirmation their deposit is secured with either a scheme or in an insured account with an agent/landlord,...

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jasonevans
jasonevans 19 Aug 2016

Belvoir has over 15 years of experience in property lettings, buying and renting and is one of the best agencies I know about. I have heard that they revived an award for the hard work. Really amazing...

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jasonevans
jasonevans 19 Aug 2016

Usually these areas are least affected when it comes to unexpected economical collapse.

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TheWaspNestRemover
TheWaspNestRemover 11 Aug 2016

You agree to pay for the treatment needed to get rid of fleas, ants, mice, wasps nests and other pests unless you can prove that these are a result of us not meeting our repairing responsibilities or these...

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madisonwelch80
madisonwelch80 02 Aug 2016

16% is quite a raise. Let's hope this tendency won't continue for long.

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madisonwelch80
madisonwelch80 02 Aug 2016

?66,963 is a serious price drop However buying a property it a serious investment only small percentage of the UK population could afford.

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madisonwelch80
madisonwelch80 02 Aug 2016

Wow, it kind of surprised me. I mean counting on mom and dad's bank even after retirement is too much. That's the moment in life when one should have ensured themselves. I am shocked.

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AbbieP.
AbbieP. 22 Jul 2016

"While house prices in the most expensive eleven boroughs have declined values in the cheapest eleven boroughs continue to rise" - not a nice way to even out the price range. London is overrated as it

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AbbieP.
AbbieP. 21 Jul 2016

And try to profit from your decisions, I may add

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CommercialTrust
CommercialTrust 19 Jul 2016

Retirement investment has always been one of the biggest draws of buy to let. And the buy-to-let demographic is, on balance, older. (Over a third of our applicants are over 50 at the time of application.) It...

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Forrest Wheatey
Forrest Wheatey 11 Jul 2016

I find the time perfect for ever home-owner wannabe. Prices should slowly, but steadily drop, at least for the inner buyer. Making it harder for outsiders to buy properties (the whole Brexit thing means...

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property guru
property guru 11 Jul 2016

Why should Ajay even have to be looking for it. It should be public knowledge. Why is not just publish each years and to were it is and be AUDITED. Accountability.

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