To help reduce the stress homeowners and homebuyers face when buying or selling a home, Rate has relaunched its Rate App, which offers more than 1,300 free wellness videos created and led by 60+ instructors and experts, alongside personalized tools and insights that help users understand and close their “stress gap”—the space between financial security, emotional well-being, and overall wellness.
Nearly seven in ten homebuyers say homeownership keeps them up at night, according to a national study conducted by Rate.
Shared during National Stress Awareness Week, the results are now part of a newly branded report, the Stress Gap Report, revealing that stress tied to buying a home has surpassed changing jobs and getting married as a leading source of stress in America.
Based on a national survey of more than 600 homeowners and homebuyers conducted in the fourth quarter, the Stress Gap Report measures how Americans experience and manage the emotional pressures of buying and owning a home.
The findings show that 53% say buying a home is somewhat or much more stressful than most other major life events, such as getting married or changing jobs.
Key causes of homebuying stress include fear of making a bad investment (22%), timing the move or sale (41%), dealing with paperwork (50%), and securing a mortgage (54%).
“At Rate, we saw a real gap – too many people feeling the stress of homeownership without the tools to manage it,” says Victor Ciardelli, CEO for Rate, in a release. “Buying a home is one of life’s dreams and greatest accomplishments. Doing so should be celebrated and never detract from one’s overall well-being and peace of mind. We built the Rate App to help Americans feel awesome about their home-buying experience while maintaining and enhancing their mental, physical, and emotional wellness.”
Photo: Vitaly Gariev