First home buyers are losing sleep

More than half of participants in a survey of first-home buyers said their sleep was affected while housing hunting.
House hunting is stressful; a survey commissioned by St.George Bank confirms what we already suspected.
A survey of 1,000 first home buyers revealed that over half found their sleep was affected by house hunting. A quarter said their productivity at work decreased.
Others lamented missing out on seeing friends (45.9%), visiting family (34.3%) and doing housework (33.4%) during the time it took to research and inspect properties.
A total of 63.5% of first-home buyers experienced missing out on a property because they were outbid, said Ross Miller, General Manager for St.George Retail Banking.
Miller recommends prospective first-home buyers make the process less stressful by defining a tight budget, looking after your wellbeing, and seeking help from experts.
“With record low interest rates, now is a fantastic time to take your first step on the property ladder," said Ross.
Key finding from the survery:
* 71.8% become emotionally invested when buying a property
* 54.8% found that their sleep patterns suffered during the house hunting period
* 25.3% found that their productivity at work suffered during the house hunting period
* 22.1% found that their relationship with their partner suffered during the house hunting period
* 45.9% missed out on catching up with friends during the house hunting period
* 34.3% missed out on visiting family during the house hunting period
* 33.4% missed out on doing house work and chores during the house hunting period
* 49.3% missed out on purchasing a property
* Of those that missed out, 63.5% missed out due to being outpriced
* 13.6% found the house hunting process very stressful
* 44.1% found the house hunting process stressful but manageable
* 15.3% found the house hunting process stressful but enjoyed the competitiveness

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