Buying a property is one of the most draining things the average person ever has to endure. While thicker-skinned investors cope more easily, the level of emotion that the first-time-buyer invests in the property purchasing process means that its highs and lows are enough to leave them a gibbering, shivering heap on the floor.
For this reason, buying a property sometimes compared to grieving as one of the most stressful times of one’s life.
It follows that as one can map five emotional stages of grieving, so one might be able to identify 5 emotional stages of property hunting grief.
Stage one: Denial – ‘it’s not happening’
“There is no way that we’ll end up paying that much for a house. The market will fall apart any day now or a really cheap one will come along. That is just far too much money to ask for four walls and a roof. And a 40 year mortgage? Not a chance!”
Stage two: Anger – ‘it’s not happening fairly’
“Bloody investors! They got into the market at the right time and now we’re getting ripped off so that they never have to work another day. And agents? -don’t even get me started on them! – There’s no way that place was in need of just slight modernisation’
Stage three: Bargaining – ‘it’s not happening their way, no way!’
“Alright, they’re asking for €450,000 but €390,000 is still a lot of money. I mean, I’d love that much money! Surely that’s enough for them … OK €400,000 then!”
Stage four: Depression – ‘it’s not happening at all’
“What’s the point in arranging all these viewings? We’re never going to be able to afford a nice place. Maybe we should just move country or something.”
Stage five: Acceptance – ‘it’s happening … someday’
“OK, so the market is the market and we have to accept that and become more realistic about our expectations. We need to stop becoming so emotionally involved and at some point the right property will come along.”
By the way, stage five is where the savvy agent pounces: The initial enthusiasm for solo house hunting has been drained from the purchasers, their defences are weakened, and expectations are significantly lowered. They’re suddenly interested in a greater variety of houses, and a “good agent” may even be able to persuade them to buy something they would never thought they wanted. But, of course, a “good” agent would never dream of doing such a thing, now would they!
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