Isn't it amazing how quickly the expenses add up when someone is moving and trying to get into a new house? No matter how much we save and plan, it's something every client seems to deal with. Those unexpected expenses just add up and it's something that overwhelms many.
It’s no wonder that many home-buyers start to feel some anxiety over the purchase. Some may even get cold feet and start to wonder if they should go through the process? With that much money on the line and unexpected expenses popping up, is it any wonder financial anxiety creeps in during a home buying process?
The good news is you can do a lot to not only be a partner in the purchase but also during the preparation and stress after. A few words of wisdom and experience go a long way. If your clients are in this boat and feeling anxious, there are several things you can do to help ease their mind.
Here are a bunch of ways to help ease financial nerves during the home purchasing process.
How to Ease Financial Nerves During the Home Buying Process
Saving Money in Other Areas
It’s about so much more than just this purchase. There are a lot of ways to stretch money further and get through the expensive months of a home purchase.
Encourage frugality in other areas while they go through the season of home purchasing. If the home is really the dream, it’s okay to sacrifice a few expenses during the home purchase. Here are some ideas to help them be a little more frugal.
Ways to Be More Frugal During the Home Buying Process
- Cut down the dining out budget. A few more meals at home can add up to a lot more money in the budget month-to-month.
- Maybe they can skip a few coffee runs in the next few months.
- Skip the salon. Do your own nails and hair at home for a short season.
- Carpool to work or take public transportation to save on the gas bill.
If they are doing what they can to be frugal and are still feeling the jitters, here are a few ideas to help them ease financial nerves during the home buying process.
How to Help Ease the Mind of an Anxious Home Buyer
- Remind them it's temporary and most families recover after a few months
- Make sure they've really calculated expenses and are purchasing within their budget
- Help them choose where to spend and where to save in regards to the home
- It never hurts to ask for repairs from the seller, those can save a ton and the worst they will say is no.
- Remind them not everything needs to be perfect at once. It's okay to decorate one room at a time. The basement can be finished in a year. The backyard will live one or two seasons without updates. It's okay to take time and make your house a home as you go.
- Does it make sense to hold off on this property and find another? Be a good support system and a true partner focusing on more than just the sale.
Ultimately, buying and owning a home is the biggest dream many people have. They just may need a little bit of help and encouragement that the dream is worth it. It’s a big purchase, and big purchases almost always yield some financial anxiety.
You can do so much good reassuring them of their dreams and helping them realize they can do this! Even if the budget is tight, it’s worth it in the end!