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

Samantha Goodman
Samantha Goodman 11 Aug 2017

Interesting point of view.

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Samantha Goodman
Samantha Goodman 11 Aug 2017

It depends on the people, some older adults decide to make a long-distance move in order to live closer to their children or settle in a place with a lower cost of living.

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brandonlee10
brandonlee10 24 Jul 2017

The financial ramifications of the triggering of Article 50, the starting gun for Britain's departure from the EU, are far from clear. Buyers will be most cautious in London, given that buying a home in...

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IrisJ.
IrisJ. 19 Jul 2017

Great advice, but may I also add that when buying an already built home, make sure you do all of the proper inspections. Most importantly pest inspection because people tend to get surprised when they

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IrisJ.
IrisJ. 17 Jul 2017

The third point is, in my opinion, the most important one. People have become too inconsiderate and careless when it comes to rented properties. If a landlord wants to protect their property, regular visits...

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cornishalan
cornishalan 10 Jul 2017

Added to the cost of purchasing these village properties are the above average maintenance costs. Particularly where the property is a listed building or requires specialist building skills such as thatching...

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Jo Mullett
Jo Mullett 07 Jul 2017

Here in Swansea, known as the Japanese knotweed capital of the UK, it never fails to amazes me that people have no idea of the potential problems this invasive non-native plant can cause when buying or...

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NathanG
NathanG 05 Jul 2017

McDonalds, for example, have been purchasing their real estate on prime locations for years. If something happens to the company they'll have invaluable assets that will be able to save them. We might

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Jonah
Jonah 04 Jul 2017

Graham: surprised to see you cite the "extra tax liability" as capping out at ?560. It doesn't - the extra tax is exponential, as it is levied on the income (i.e the inflating level of rental income you...

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Dianne Griffen
Dianne Griffen 29 Jun 2017

Be very wary of anyone bringing you deals that they have ?found? and want to ?sell on to you? or ?joint venture? with you on ? you need a proper legal contract for this, involve a RICs surveyor to confirm...

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jason hadzikostas
jason hadzikostas 28 Jun 2017

The most important thing is a budget. Students have to manage their spendings in food, house maintenance, books and many other things. According to me, student Studios are the perfect option for them as...

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SecomTech
SecomTech 22 Jun 2017

AT Last...This was discussed years ago and there was a move towards landlords registering their bad tenants on a database..(can't remember where) It seems a logical step though our leaders will probably...

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