World Mental Health Day is observed on October 10th with the goal of raising awareness around mental health issues worldwide while mobilizing efforts in support and treatment. The World Health Organization notes that anxiety and depressive disorders rose more than 25% during the first year of the COVID-19 pandemic, a time when mental health services were disrupted.
Homeownership is a deeply emotional and personal process that affects a person’s lifestyle, financial situation, and feelings of security. In a survey from Realtor.com, 23% of 2022 homebuyers said the process was so stressful, they scheduled extra therapy sessions. Over 25% of homebuyers also took mental health days off work.
Today, we’re taking a look at actionable items that will help you prioritize your mental health during the homebuying process.
Set realistic expectations—and set them from the beginning. Remind yourself that you’re not the only person looking for a home and there will most likely be a lot of ups and downs. The housing market is very different than trends in years’ past, so doing research ahead of time about local market trends can be helpful.
While every timeline is different, it’s important to enter the market without having to make a snap decision. Start your process earlier rather than later to let go of some of the anxiety of rushing into a new space. This will help you remain calm and most likely save you from buyer’s remorse.
Limit the amount of time you spend looking online at new listings. Refreshing the same websites over and over will make you fixated and more stressed. Be sure you’re prioritizing your self-care during the process and reach out to loved ones when you begin to feel stressed.
Working with a team of experts, like a Real Estate Agent and a Licensed Loan Originator can provide you with insider details about the local markets and assist in setting realistic expectations. In addition, your Real Estate Agent can help you with negotiations when it’s time to make an offer. If you don’t have a trusted agent, Homestead Funding has access to thousands of trusted Realtor partners across the country that we will happily connect you with.
When you’re ready your journey to homeownership, contact us today. Our Loan Originators will be here to support you every step of the way to make your homeownership dreams come true.
Homestead Funding offers exceptional customer service and a convenient mortgage process. Whatever your financing needs, our goal is to exceed your expectations.