The process of buying a new house can be a lengthy one. The countless hours you spend educating yourself on industry jargon, researching areas, agonising over images of properties, alongside actually moving in, probably number in double digits.
Bold Buyers
Which is why it’s so surprising that the average Brit will decide whether they want to buy a home or not within 30 minutes of viewing it in person.
However, when it comes to buying a new car or sofa, it can take up to three times longer!
The findings of a recent survey found that the average home hunter will make up their mind within 30 minutes of a viewing. 24% of those asked claimed they knew whether or not they liked a property within 10 minutes or less.
With the current supply and demand issues the UK property market currently faces, many buyers will likely feel the pressure of competition when making their decision.
When split into region, house hunters in the East of England were shown to be the most careful in their decision making, with the average minute of viewing totally 32 minutes.
Buyers in the East Midlands had the biggest reckless streak with the average time spent viewing a property before making a decision equalling 25 minutes. They were followed closely by the South East (26) and Scotland (26).
How much time was spent on research?
The modern prospective buyer has a wealth of tools at their hand to prepare themselves for a viewing. With the help of a google search, they can compare values of properties in the area, check the quality of schools and amenities and even check crime reports. They only a visual confirmation of the property needed to push them over the edge.
House hunters in the east midlands spent the least amount of time conducting research about their new home, spending 61 hours researching online. Whilst Wales proved to be the most prepared for their viewing spending an average of 83 hours researching property.
A house hunter can do all the research they like into a property, but at the end of the day, it’s the first impression that counts. That’s where Fife Properties comes in. From valuation to viewings, we’ll always be up front about your properties strengths, areas that can be improved, and we’ll give constructive and helpful feedback following each viewing.
