The 6 Emotional Stages of Buying a House Mar 25, 2019 | Home Loan Julius Shulman a great American architectural photographer said, “What Good is a Dream House if you haven’t got a Dream” Rightly said, everyone dreams of buying that perfect home, but from the moment you start building those castles in air to the time the castle comes to lay its foundation; be prepared to experience a roller coaster ride leaving you feeling a mix of emotions – exhilarated, happy, sad, desperate disappointed, tired and a volcano of Hormones all along that ride. Don’t get scared, the journey of a perfect house starts with laying down that first brick. 1. Cautious Optimism: After years of saving your hard-earned money, and shelling out that rent every month, epiphany strikes you! You have come to realize that adulting has finally paid off: You are finally ready to step into the financial planning stage for that home you’ve always dreamt of. 2. Self-Consciousness: Eventually, every penny of debt, all your bank accounts, your credit history is up for scrutiny; lenders rushing in with all finance and refinance investment loans options. You might have to present your recent tax returns or financial statements depending on your work profile. Now cause of worry, if you are self-employed and are unable to provide such documents. Well, there are lenders who are willing to offer you full doc or low doc home loans subject to your requirements and interest rates. *Phew*, take a sigh of relief. 3. Gradual Disillusionment: Now it’s time for you to hit those real estate sites and you realise that that dream home only exists with the celebrities and Kardashians or every person who has made better choices than you. While, you’re bummed by the house you’ve wanted vs house you’ve seen earlier in the day, you must take out time to give a check on your financials. Pick up a Loan comparison calculator and “Do that Math”. Know your outflow and plan for the house that fits your budget and closely associates to your dream. 4. Creeping Fatigue: That seller you had placed your bid with isn’t settling for that price; that house you thought would be perfect for your future kids to play in ends up next to a sewage processing facility; those never ending list of documents and questions; that home appraisal and home inspection you’ve been waiting to get cleared; leaving you exhausted and that dream eventually turns into a nightmare. 5. Hopeful Delusion – Then on your way back, you begin to fantasize about that condo with high-end features & downtown view or that small two-storey house with gourmet kitchen, a backyard and shade of trees. Yes that. May be the Dream is not that far away. *Daydreaming* 6. ‘Phew’ Sigh of Relief – Yes, the Banker has finally passed your full doc or low doc home loans; hours spent on Loan comparison calculator and real estate sites has finally paid off. Now you’re in control of the numbers, papers are approved and you go towards your landlord to kick some rocks. You’re in your new home, calm-composed, sipping on that chilled Beer and grilling the kebabs on the barbeque. *Cheers* Turns out there is a sequel. The ride isn’t over yet. The pressure of the mortgage payments, the fluctuating interest rates doing no good to you, then you might want to consider refinance investment loans option. Save that extra buck and give those wallpapers or hue lightening for your castle. Happy Living!!