What’s putting you off moving? Setting aside a sluggish property market, it seems that, for many of us, it’s the thought that the process is just too stressful. The costs, finding a new mortgage, lack of certainty about a new area or a fear of the unknown have put off 60% of homeowners(1) placing their current home on the market and looking for a new one.
It’s often said that moving home is as stressful as getting a divorce, having a baby, starting a new job or getting married. On the flip side, 62% say they are happier once they have actually made the move, so the key to a successful move is to identify the potential sources of stress and uncertainty and do all you can to eliminate them.
Embrace change
Some of us like change in our lives but for others who like familiarity it can be a source of anxiety. A new area, commute, schools and healthcare can be enough to make you decide to stay where you are. So, in preparation, spend time in the new area, talk to potential neighbours, check out the local amenities and visit at different times of the day/week to check noise levels. Addressing each of these issues will hopefully make you feel in control and more positive.
Finding a new mortgage
The finances of a move may be your biggest worry. Whether you need to increase the size of your loan, transfer your existing mortgage or find a new provider, speaking to us early in the process, even before you have identified your next home, allows you to consider your options and review the
likely repayment costs.
There are some unknowns involved in a move but remember that for many it’s a change for the better.
(1)Yopa, 2019
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.
Clifford Osborne are Independent Financial Advisors (IFA) based in Eastbourne, East Sussex, offering mortgage advice, early retirement advice, pension advice and more. Our clients often come from Uckfield, Lewes, Brighton, Tunbridge Wells, Hastings, Bexhill, Newhaven, Seaford, Crowborough and further afield. Read more mortgage news and other financial advice in our blog.
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The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.
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