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Buyers deliberate over property purchases

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18/08/2015
One-in-three house hunters now spend more than three months finding their perfect property.

Research by Ocean found that a third of people will spend around three months researching homes online, contacting estate agents and viewing properties.

However, almost a quarter of people take less than a week to find their perfect property and 17% visit just one property before buying.

On average homebuyers will visit four properties before making their purchase decision. Two-in-three people know by the end of their first visit whether they would want to buy the property, research said.

However, the majority (60%) admitted they need to see properties two or three times before they move in.

Gareth Shilton, spokesman for Ocean Finance, said buyers should make sure they have fully researched the properties they are considering.

“Buying a home is the biggest purchase of our lives, and small mistakes can cost a lot,” he said.

“Make sure you do your research, there are many useful websites that can help you to find more information about the area you are moving to, but do a couple of visits to see the property and the neighbourhood. Don’t make any snap decisions, because then you may find yourself regretting buying a property that you are not happy with.”

Traffic noise was the major deal breaker for people, with the majority preferring not to be based on a main road. Lack of natural light and electricity pylons were also seen as major issues.

Shilton added: “When you are house hunting you are on the lookout for deal breakers, like a bad neighbourhood or messy garden. Before you start looking make a list of what you consider to be an essential you can and can’t live with and what can be easily improved or upgraded such as wallpaper or carpets.”

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