Sometimes selling a home is considered more stressful than planning a wedding.
According to the latest study by Opendoor, people are 35% more stressed about selling their homes than they are about exchanging vows. And for many homeowners 55 and older, selling a home is frequently linked with other important life changes, so it’s not just one extra layer of emotion; it’s several.
This statistic may be a surprise to some, but it does highlight the emotional and practical barriers that are involved in selling a property. Whether you are downsizing, moving, or just starting a new part of your life, knowing about the stress factors ahead of time and how to reduce their impact will be helpful.
Why is Selling a Home So Stressful?
For Americans over the age of 55, some of the most stressful life events include selling a home (65%) and finding a new job (65%). These events are more stressful than buying a home (62%) and planning a wedding (48%) than these two events, according to the survey.
Among this age group, women are more sensitive to home real estate transactions than men. A total of 72% of women found selling a home the most stressful event compared to 57% of men.
These are some of the many reasons why people find the process of selling a home so overwhelming:
Emotional Attachment
Homes are not just buildings; they are collections of memories and sentimental value. Of those, 66% have a connection to their homes, and 56% have lived in their homes for 15 years or more. It, therefore, makes the process of leaving a home a rather bittersweet experience and leaves people feeling emotionally drained.
Uncertainty and Financial Pressure
The process of selling a home is not without its uncertainties – from finding a great qualified buyer and negotiating prices and terms to dealing with market fluctuations. There are all high risks and high rewards, and they can be pretty stressful, especially when you are trying to get the best possible deal.
Coordination of Logistics
This doesn’t have to be the case! There are many details involved—like staging and showing the home, handling the paperwork, and coordinating the move—but the key is to plan and coordinate everything carefully. Just knowing that you will have to do this at some point in the future, and possibly having to do it while also juggling other life responsibilities, can be overwhelming.
Tips for Managing Home Selling Stress Free
Understand Your Selling Options
It is very important to know your options and plan ahead if you are going to be selling a home. They can make sure your real estate agent takes care of marketing, negotiations, and paperwork and also get you an extra $34,000 on average, according to a recent study.
Another one is iBuyers, where companies buy houses directly from the owner of the home . They are usually fast and easy, but the price is generally lower than a normal traditional sale. In addition to being able to sell yourself as a For Sale by Owner (FSBO), you are looking at a lot of work in marketing, negotiation, and legal matters. Many think they can save on agent commissions, but it usually leads to a lower final sale price and net profit.
Set Realistic Expectations
Avoiding the disappointment of unrealistic expectations, knowledge of today’s market conditions is important. Today’s market is not the same as that of 2021-2022! If you are working with a professional, make sure to express what you want to achieve with your real estate agent, and be ready to modify your approach according to the local trends.
Simplify the Process
Clean and organize your house before you even think about listing it. A home that is ready to show will grab the attention of buyers faster than one that is not, which means it will spend less time on the market. It also benefits you to have all the documents you’ll need in one place to speed up the closing process.
Final Thoughts on a Stress-Free Home Sale
Selling a home can be a very emotional thing. However, if you happen to know what might cause some stress and how you can prevent it, the process can be easier to navigate. With some forward thinking and reasonable expectations, it is possible to tackle the process of home selling with a clear head and a stress free home sale.