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No matter where you live, buying a home is sure to create a certain level of stress. From viewings and inspections to seemingly endless paperwork, chances are high that you’ll find yourself frustrated at some point during the home buying process.
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But every city and state is different, and some places are much worse than others due to rapid population growth, fierce competition and rising prices. In order to find out which U.S. cities create the highest stress levels, I asked the experts for the inside scoop. Here are seven spots that could cause homebuyers to hit a boiling point.
Providence, Rhode Island
Providence is a very stressful place to buy a home right now, especially as buyers flock to places with more affordable homes. Melissa Perrille of Premier Realty Group says an increase in prices in Providence is to be expected. “Providence, Rhode Island is expected to see some of the most growth in the U.S. and that can be incredibly stressful for buyers who are looking to purchase a home in the area,” she says.
According to Perrille, there’s a lot to like about Providence, and it isn’t limited to being close to New York (though that certainly doesn’t hurt). “There are just so many things that make living in Providence appealing — its proximity to New York and Boston, a strong hospital and university system and an emerging art and dining scene that is beginning to explode,” says Perrille.
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A small city in the middle of Maine, one may not expect Bangor to be particularly stressful for homebuyers. However, competition for homes is fierce in the city at the moment, says George Beatty, founder of Problem Property Pals. Beatty says that realtors there are witnessing homes get snapped up very quickly, and the increased demand is driving up prices considerably.
“Experts point out that Bangor is a stressful city to buy a home primarily because of its low absorption rate,” Beatty says. “The absorption rate refers to how many months it would take to sell listings in a market based on the current rate of sales.” In other words, homes in Bangor are purchased very quickly after being listed, which can be stressful for buyers.
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