5 Tips to Manage Stress When Selling Your Home Due to Financial Hardship
Life is unpredictable. We can plan and budget carefully, but we can’t anticipate every expense or change in income. Even a model employee may face a layoff when a company is sold. An accident or natural disaster might cause damage we can’t afford. A divorce or sudden change in health can cause a significant drop in household income. A financial crisis already is a huge stressor, but selling your home to help relieve economic hardship doesn’t have to make the anxiety worse.
- Take action as soon as possible. If you aren’t already facing foreclosure and have decided to sell your home, getting the ball rolling on selling your home can help keep foreclosure off your credit report and get you back into financial comfort sooner. If a potential buyer or agent calls, answer that phone! Reply to that email! Be present at essential meetings and document signings. Don’t let stress compound itself by stalling the process. The sooner you sell your home, the sooner you can move on.
- We all make mistakes. Maybe home ownership was more expensive than you originally believed. Perhaps other investments failed, leaving you with few choices beside selling your home. Beating yourself up about these instances is counterproductive, so try to forgive yourself and move on. Let go of financial regret. You have new adventures ahead.
- Stress hurts and affects many aspects of our lives. It can lead to anxiety, high blood pressure, depression, sleep problems, social issues, and much more. Make time each day to take care of your health to help relieve stress from financial struggle. Go for a walk and get some fresh air. Make sure to get adequate rest and food. Let yourself have fun by spending some time with a friend. Talk to a loved one for support.
- Finding new housing can be a lengthy process. If your home is auctioned due to foreclosure, you generally will not have a grace period to find a new place to live. Try working with a buyer who will make accommodations for you and allow you to stay in your home for a period after the sale so that you can find a new place and complete the transition to your new home. Property Max is proud to offer this service.
- Visualize the next chapter of your life. The sacrifices you’re making now by cinching your budget and moving to a new home can be hard to face; by focusing on the end result—your future financial independence and comfort—you can stay positive.
When you’ve decided to sell your home to help relieve a financial crisis, the stress can pile up fast. Putting forth the effort to manage that stress can pay off by helping you complete the sale of your home and get on track to financial independence.