How to make selling your home less stressful – as a fifth of people compare it to a divorce or break-up

The pressures of house-selling have been likened to a relationship breakdown or even arranging a funeral.

Vicky Shaw
Friday 13 September 2024 04:32
A fifth of people liken home-selling stress to going through a divorce or a relationship breakdown, new research has revealed (Alamy/PA)
A fifth of people liken home-selling stress to going through a divorce or a relationship breakdown, new research has revealed (Alamy/PA)

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The autumn housing market is underway – and there are already positive signs that it could be a busy season. Mortgage rates have been edging down, with a cut to the Bank of England base rate in August, and mortgage approvals to home buyers are up.

The Bank’s figures recently showed that the number of mortgage approvals made to home buyers jumped in July to 62,000 – the highest level seen since September 2022, when the mini-budget which prompted financial turmoil was delivered under former prime minister Liz Truss.

Some economists have predicted mortgage approvals could edge higher in the next few months, as mortgage rates continue to ease back.

But selling – or buying – a home isn’t always plain sailing. In fact, a new survey suggests some people would even go as far as saying they find the process as stressful as a relationship break-up.

The Opinium survey of 4,000 people in July reveals that a fifth (20%) of women and nearly the same (17%) proportion of men think home-selling stress is like that of going through a divorce or a relationship breakdown.

The research, commissioned by property buying company Upstix, also found more than one in four (28%) home sellers find the process as stressful as planning a big event such as a wedding, while one in six (16%) liken it to planning a funeral.

The research also reveals the key factors that send seller stress-levels through the roof. The top “pain points” include the length of time it takes to sell (23%), feeling under pressure to reduce the asking price (18%), and the “communications black hole” – where sellers have no idea what’s going on because those supporting them with the process go quiet (14%).

People who have never sold a property before are particularly likely to be daunted by the process.

Challenges that were especially prevalent among younger sellers aged 18-34, who are more likely to be first-time sellers, include being “ghosted” by their buyer, and having to vacate their home at inconvenient times to accommodate multiple viewings. Nearly three-quarters (73%) of 18-34-year-olds who have sold a property say they faced significant challenges, compared with just a third (33%) of those aged over 55.

Fred Jones, chief operating officer at Upstix, says: “The findings not only highlight just how stressful selling our homes can be but importantly put some of the top pain points in the spotlight.

“Many of these, like the dreaded communications black hole, being ghosted by buyers or playing a protracted waiting game, can lead to sellers feeling totally powerless. That is clearly a stressful place to be when you’re selling what is often your most valuable and valued asset.

“It’s sad but not surprising to see that younger people, who are most likely to be selling a home for the first time, find the experience most stressful.”

How to reduce the stress

So, how can you help ease the stress of selling a house?

Daniel Copley, consumer expert at property website Zoopla, says: “Preparation is the key to making buying or selling a home less stressful. When finding a conveyancer, ideally you should have one lined up before agreeing on a sale as buyer or seller. This means you can get all the data and searches done up front, many people leave this to post-offer accepted stage, which can cause delays.“It’s also worthwhile speaking to a mortgage broker and applying for a mortgage in principle. This is a simple way to determine what you can afford and will put you in a stronger position when making an offer on a home.”

Tim Bannister, a property expert at Rightmove, adds: “Moving home is a really big thing, and I think there will always be an element of stress as it is such as big life event.”

He says estate agents can help take some of the stress out of the process too, adding: “They’ll be able to make sure you’re coming to the market with the right price, and your home is looking its best for the pictures and visitors, which can all help to find a buyer faster, reducing time and stress.”

Bannister says asking some key questions to get a clearer idea of the buyer’s financial position can also help to keep stress levels down.

He continues: “While the price your buyer can offer is clearly very important, if you are fortunate enough to have more than one interested party, you may consider whether they are perhaps a first-time buyer with no property of their own to sell, or whether they have a higher cash deposit and aren’t as reliant on a mortgage.

“If they are selling a property themselves, it’s important to know whether they have already found a buyer for their home. Understanding the position of your potential buyer can help you make a decision which could impact stress levels later down the line.”

Being organised with paperwork can also help mean you won’t be chased for documents, Bannister says, adding: “Being clear with your chain about the dates you hope to exchange and complete can also help to make the process less stressful, as hopefully you can negotiate a completion date which works for you and gives you enough time to get everything sorted.

“And don’t forget about your move-in day – book any removal assistance you need nice and early!”

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