#Chicago #Rate #Homebuying #WellnessApp

Understanding Homebuying Stress: Insights from the Latest Study

Recent findings highlight a troubling trend in American homebuying experiences: nearly 70% of homebuyers report that the stress associated with homeownership keeps them awake at night. Conducted by Rate, a prominent fintech firm, this national study reveals the complexities of homeownership stress during National Stress Awareness Week. Titled the Stress Gap Report, the findings indicate that stress stemming from homebuying has eclipsed traditional life pressures such as changing jobs or marital commitments.

The report summarizes data collected from over 600 U.S. homebuyers and homeowners in late 2024, showcasing how emotional burdens during homeownership can influence overall well-being. It was found that 53% of respondents feel that the homebuying process is significantly more stressful than other major life events. Key stress factors identified include the fear of making poor investment decisions (22%), struggles with timing a move or sale (41%), managing extensive paperwork (50%), and securing mortgage approvals (54%).

The Relaunch of the Rate App

Amid these findings, Victor Ciardelli, the CEO of Rate, announced the relaunch of the Rate App, intended to offer tools and resources that address not only financial needs but also personal wellness. This updated app aims to create a wellness-driven experience designed to alleviate stress and assist users during their homebuying journey. Unlike other platforms that demand subscription fees, the Rate App provides access to over 1,300 wellness videos, all free of charge and featuring guidance from more than 60 experts. These resources are designed to help users close their