Every buyer goes through a series of emotions from the moment that they begin their search for a new home to the euphoric time when they take possession of the front door key.
Let’s not sugar-coat this: buying property can be stressful for a time. And first-time buyers must deal with the anxiety of dealing with each issue for the first time.
If you already own a property you must not only focus on purchasing a new home but selling your existing one. Ideally, you can do this simultaneously, otherwise you may need an expensive bridging loan or finding temporary accommodation, plus storage for belongings. Either way, it’s a hassle.
As an experienced local agent, I’ve seen all the emotions that buyers and sellers go through during a transaction. To help you prepare, let me step you through the fundamental stages that can press your buttons. If you’re forewarned, you’ll find it easier to manage your stress levels.
- There’s nothing I like – For sure, there is. We’ve just haven’t found it yet. I’ve never worked with a buyer who didn’t find something they wanted. Be patient. It’ll come.
- This is the one! – Great! Let’s enjoy the moment, but not too much. There’s a long way to go, including price negotiation.
- Your heart is set – Okay, let’s take a reality check. You’ve not done the inspections yet. And others are probably going to like the property, too. It could get whisked away from us. Together, we’ll play the smart game and work to make sure that doesn’t happen.
- Nerves set in – I worry more about this emotion than any other. You can want a property too much sometimes. You get caught up in the moment and undermine your ability to negotiate. Meanwhile, you might be asking, “what if there’s a problem with the inspection?” Then, if there’s a problem, it can feel like a catastrophe.. You don’t want a termite-infested home. And you don’t want to pay too much, either. This can be a roller coaster. That’s why I am here for you.
- OMG, these banks! – Applying for a loan is no picnic. This is where reality starts to bite as you begin to see how much your dream is about to cost. A mortgage broker can take away a lot of the paperwork and reassure you (or not) that you’ve got this when it comes to meeting those mortgage payments.
- How much?! – Money runs through your fingers like water. The bills come in for the boundary survey, title search, lender’s fees and the deposit to take the property off the market. It’s time for a deep breath and to remember this property is “the one” and these expenses are one-offs.
- Pre-closing anxiety – Of all the emotions I see in buyers, this is the most common. You’ll question whether you’re doing the right thing – pretty much everyone does. It’s understandable, but trust me, you’ll quickly focus back on the prize.
- What have I done? – With good guidance you’ll avoid this but some highly anxious buyers end up in this headspace. Remind yourself – if your new home has met your predetermined criteria, you’ve kept your emotions in check and negotiated a fair price, then raise a glass and congratulate yourself – you’ve done a great job!