Thursday, February 11, 2010
Category:
Property
According to Unbiased.co.uk, house buying ranks in top place when it comes to life’s most stressful experiences.
Research has revealed that 24 percent of homeowners feel that purchasing a property is the most ‘demanding and stressful’ thing that they have embarked upon. Commencing a new job was found to rank in second place at 14 percent, followed by having a child at 13 percent and getting married at 9 percent.
Buying a house was considered to be life’s most stressful experience across all age groups. In fact, the figure reportedly rose to 37 percent amongst those between 20 and 29 years of age. Furthermore, findings indicate that moving up the property ladder becomes increasingly stressful. It was discovered that 41 percent of second time buyers felt that their second purchase was either as stressful, or more stressful, than their first. Being involved in a chain was found to add further stress to the situation for 27 percent of second time buyers, with this figure rising to 42 percent amongst those between 20 and 39 years of age.
For 16 percent of second time buyers, the decision was reportedly deemed to be more significant than when their first purchase was made as it was a long-term investment. Indeed 7 percent of second time buyers sold their first home and then rented a property prior to making a new purchase in order to avoid becoming involved in a chain.
The research showed that the most stressful element of house buying for 35 percent of homeowners was actually finding the ‘right property’, with this figure rising to 47 percent amongst those over the age of 70. For 20 percent of homeowners moving in was deemed to be most stressful, and 12 percent considered the organisation of a mortgage as being most stressful.
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Homeowners who have recently moved into a new property, but do not have the funds required to put their personal stamp on it, could consider taking out a secured loan to make this possible. One of many finance options available, a
secured loan for home improvements could pave the way to that dream home. For example, a secured loan for home improvements could be used to thoroughly redecorate and refurbish their new home to suit their own taste and style. Furthermore, if extra living space is desired then borrowers could even consider adding an extension or conservatory to their property.
