First-time buyers choose proximity to work over family
First-time buyers would rather live nearer the office than their family, according to research by Principality Building Society.
In a survey of 2,000 first-time buyers across England and Wales, location ranked as the most important factor to three quarters of respondents.
Over a fifth (21%) of prospective homeowners said they would compromise living near to their family over proximity to work (15%).
In fact, first-time buyers would even put proximity to shops (14%), transport networks (12%) and being close to a city (13%) over being able to nip over to mum and dad’s quickly.
Principality Building Society’s customer director Julie-Ann Haines said: “First-time buyers are working harder than ever to make sure they’ve got money in their pocket to afford and secure a house. We’re pleased to see that these future homeowners understand the realities of buying a house and are willing to make compromises on the way to putting that deposit down.
“It seems these first-time buyers would rather be late for lunch with the family than a 9am meeting. We wish them luck telling their mums!”