Newspaper article The Journal (Newcastle, England)

Deciding to Buy a House Takes Young People Less Than an Hour

Newspaper article The Journal (Newcastle, England)

Deciding to Buy a House Takes Young People Less Than an Hour

Article excerpt

Byline: Jo Blakemore

YOUNGER homebuyers and people taking their first step on the housing ladder spend less than an hour on average viewing a property before snapping it up.

And one in 20 people responding to a survey had not viewed their property at all before buying it.

The findings have been endorsed by local estate agents who say that the age range of buyers does impact on how they approach buying a home.

According to Which? Mortgage Advisers, one in 10 buyers did not conduct any checks during their viewings - potentially leading to costly maintenance bills further down the line.

The amount of time that people tend to spend physically checking out a property before buying it increases as people get older, the research suggests.

People who spent longer viewing a property also tended to be more successful in haggling some money off the asking price.

Which? found that while homebuyers aged 18-44 spent around 50 minutes looking around a property before buying it, people aged 45-64 spent just over an hour viewing it before deciding to take the plunge.

Buyers aged over 65 spent the longest amounts of time viewing a property before buying it, at one hour and 14 minutes typically.

Across all age groups, first-time buyers spent around 53 minutes looking round a property before buying it.

Duncan Young, of local estate agents Sanderson Young, said: "I think this survey does represent the true feelings of the different age groups which have very different priorities.

"I am experiencing it first-hand with my own children who are more keen on how close the flat is to clubs and bars than whether it is best designed, most cared for or maintained and, to an extent, whether it offers the best value for money.

"As people mature and move more frequently, then they remember how much money was spent rectifying problems which did not seem a priority the last time they viewed, as well as the ever-growing importance of living in an energyefficient home to keep overall running costs down. …

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