Photo by RDNE Stock project
Written by Holland Webb for Stacker.com
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Buying a home may be hazardous to your mental health. In fact, a survey from Realtor.com reported that 23% of homebuyers said they scheduled extra therapy sessions to deal with the stress. Given the current market, it’s not surprising that buyers need therapy. If you’re searching for a home in post-COVID America, you probably feel like you’ve stepped through the looking glass. Interest rates are soaring, prices are high, inventory is low, and high-stakes bidding wars are playing havoc with buyers’ emotions.
What’s the biggest culprit? Money. In a survey by Rocket Homes, 59% of prospective homebuyers named the down payment as their primary source of frustration. They followed that with high home prices and a desire to avoid debt. Younger buyers appeared, especially debt-averse. The added responsibilities of home ownership also create concern, as did finding the right location to live. It’s not easy to protect your mental health while finding and buying the ideal home, but it can be done. Today’s Homeowner took a closer look at what it takes to keep your head in today’s homebuying market.
