What Gives Homebuyers Anxiety About the Process

How knowledgeable are your clients about the homebuying process?

Chances are, not very. Forty-seven percent of adults in a recent Ally.com survey said they are not confident in their knowledge of the homebuying process.

There are some aspects that most buyers are more comfortable with than others. For example, thanks to how easy it is to find homes on the market online these days, 61% of adults said they feel confident they know how to search for a home. However, 51% said they feel anxious about the homebuying process as a whole. But, thankfully, buying a home doesn’t compare to the anxiety that comes with snakes, said 26%, heights, said 25% and visiting the dentist to have a tooth pulled, said 22%, the report found.

When buyers find the perfect home, what keeps them up at night is deciding on a price point, said 45%, while 44% said deciding on the right time to buy gives them anxiety. Once buyers commit to making an offer, the anxiety continues for many. Close to half (48%) said knowing the right amount to offer is stressful for them and 47% are fearful of a bidding war. As their Realtor®, you should be able to ease their fears by knowing the local market.

But once they get a house, it isn’t all smooth sailing, said most buyers. There are stressors that come from homeownership. What intimidates buyers the most? Fifty-eight percent said the cost of repair and maintenance, 52% said getting work done and 44% said the mortgage.