Residz Team 4 min read
Breathe. It’s okay. Breathe. I see you’re feeling upset and stressed. It’s a horrible sensation, but things will get better, and you’re not alone feeling like this. For many of us it’s part and parcel of buying or selling your home.
Oh, you thought I was talking about going through a relationship breakup? Well yes, that is slightly more stressful. Nearly four in five (78%) adults surveyed for Zillow said going through a relationship breakup made them feel stressed, but, in second place, 77% said selling a home made them stressed.
The survey by Ipsos on behalf of Zillow found buying a home is nearly as fraught, with 72% saying it was stressful.
We need to talk more about the health and wellbeing of home sellers and home buyers. Especially when we hear that home sellers are crying, and home buyers have shed a tear in the process too.
Of course, for many Australians, most of the stress comes from the fear of never being able to buy their own home at all.
But let’s see what we know about the reasons for home seller and buyer stress, and general self-care tips on what you can do to soothe your angst as best you can.
Why is selling a home so stressful?
First, let’s unpack what the survey found about the stress of selling a home. The 2019 U.S. survey found that selling a home is more stressful than becoming a parent (58%) getting fired (58%), or teaching a teenager to drive (53%).
Selling a home was also more stressful than planning a wedding (60%) and potty training a child (47%)!
More under 35s found the process stressful (82%) than over-55s (73%). Whatever their age, sellers reported that many factors contribute to the stress of selling. Here are the factors nominated by at least 50% of home sellers as stressful:
With a list that long, no wonder sellers are joining the ranks of those suffering the property blues. One in five compared selling a house to the stress of starting a new job, getting fired from a job, or experiencing conflicts at work or at home.
Must you sell now?
You may have no choice. Perhaps you’re one of the 4Ds where you must sell now. Or, you’re committed to selling now to buy a home in the same subdued market conditions. Either way, you will feel stress. Prices are falling. Days on market are getting longer. Interest rates are still rising, and the cost of living is biting.
Why is buying a home so stressful?
So what about the buyers? A 2022 survey by Moneybox Homebuying of 1500 adults who’d recently bought a house found almost four in 10 found it one of the most stressful life events they’d experienced.
28% said it was more stressful than looking for a job, 23% more stressful than planning a wedding, and 18% more stressful than having a child.
The stressors for home buyers included:
Despite the stress, 36% said in the survey buying a home was still one of the best things they’d ever done.
Health and wellbeing tips that help with stress
So, what can be done to alleviate some of the symptoms of stress? Here are some good tips from health professionals.
Practise gratitude
Chelsea Pottenger, author of The Mindful High Performer, recommends waking up and before you reach for your phone or get out of bed, state three things you are grateful for. This will help set your positive mindset for the day.
Exercise
According to Queensland Health, exercise really does prompt your body to release feel-good hormones like endorphins, which can help you to feel less stressed. Stress can also make you subconsciously tense your muscles, which exercise might help to release.
Qld Health says it doesn’t have to be a full workout: walk around the block, do 20 jumping jacks, go for a quick run or find a 10 minute yoga flow on YouTube to follow.
Try to get some control of the process
Dr Norman Swan, author of ‘So You Think You Know What’s Good for You’ says “locus of control” includes how much “say” you feel you have over decisions in your life. If that locus of control is elsewhere, it creates chronic stress. So watch how much you allow others to dictate your decisions. Ask for information, then be firm in what you want.
Remember to relax
One of Beyond Blue’s list of tips is to incorporate breathing and muscle relaxation exercises into your daily routine. It adds that some people find meditation or yoga good ways to unwind.
Get a good night’s sleep
So obvious, but globally we are notoriously bad at getting more than 6.5 hours sleep a night.
Harvard Medical School’s published list of tips includes these two:
Try Residz
Residz can help buyers and sellers reduce the stress:
Photo by Courtney Kammers on Unsplash