Thomas Holmes and Richard Rahe of the University of Washington School of Medicine developed a method for assessing stress in individuals lives. The Social Readjustment Rating Scale assesses the different levels of stress that occur because of different life events. Psychologists and therapists use this tool to assess the level of challenge a person faces at a given time. Each stress factor is given a number. An individual being assessed would list the stressful events he or she is presently facing and add up the total. If a person is selling their home, they often score very high numbers.
Home sellers typically face several life challenges along with the sale of their home. Since home sales are often initiated by events like a Death of a spouse (100), Divorce (73), being fired (47), relocation (20), or changing work (36), the stressful components of selling a house are usually compounded. If the home seller is dealing with one or more difficult life events, the complications of showing the home and the mortgage process may seem overwhelming.
Issues involving time and lack of sleep may also play into the overall tension many home sellers experience. If their property needs renovations and major work, things usually become even more difficult. Realtors do their best to simplify the process, but bank regulations and mortgage complications are often out of their hands. There are a few steps home sellers can take to make the process easier.
Don’t do it alone. Keep friends and family in the loop. Share some of the burdens with a spouse, grown children, or other family members. Sell house in as-is condition. Some buyers are willing to purchase homes in an ‘as-is’ condition for a lower fee. The home seller avoids investing money before the sale and avoids the complications and inconveniences of remodeling. Sell to Cash Buyers. Some companies, usually home renovators, will pay for the home in cash. This reduces the paper work and streamlines the sales process. Since the sale is made in cash, no mortgage is needed so the sale can be completed in days instead of months. There is also less of a chance of a sale falling through with a cash buyer. Schedule pleasant, fun events during the home selling process. It’s easy for the sales process to take over you and your family’s life. Make sure to eat, get enough rest, and plan some enjoyable activities.
You do have some control over the stress that comes with selling your home. Explore your options.