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First-time buyers ignorant over home-owning realities

by admin
16 March 2012
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HSBC research suggests that naive first-time buyers are blissfully unaware of the practicalities of owning a home.

The major considerations for first-time buyers when looking for a property are location (35%), size of the outside space (27%) and local amenities (21%). However, few consider more practical aspects important to their search such as plans for development in the area (1%), the condition of nearby properties (4%) signs of subsidence (5%) and the cost to update the property (6%).

HSBC asked 155 first-time buyers what questions they felt were most important to ask the vendor when buying a property and 100 estate agents what questions they would advise first-time buyers to ask.

The results highlight differing views first time-buyers are more immediate in their outlook while estate agents identified more practical questions pertinent to the longer term considerations of living in and owning a property.

Peter Dockar, head of mortgages at HSBC, said: “It is important that first- time buyers consider more than just their immediate desires when looking for their first home

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© 2018 Trek Publishing Limited. Website design by Bedazzled Media Limited.
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  • MORTGAGES
    • Mortgage type
      • Discount mortgages
      • Fixed rates
      • Fee-free
      • Interest-only
      • Offset
      • Remortgages
      • Trackers
      • Variable rates
    • Conveyancing
    • First time buyers
    • Help to Buy
    • New build
    • Overseas
    • Regulation
    • Self build
    • Shared ownership
  • BRIDGING
  • BTL
    • Consumer BTL
    • HMOs
    • Limited Company BTL
  • COMMERCIAL
    • Asset finance
    • Auction finance
    • Commercial mortgages
    • Development finance
    • Invoice finance
    • SME finance
  • DISTRIBUTION
  • G.I.
  • LATER LIFE
    • Equity release
      • Lifetime mortages
      • Drawdown
    • Pensions
    • Retirement borrowing
  • LOANS
  • PROTECTION
    • Critical illness
    • Income protection
    • Group protection
    • Life cover
    • PMI

© 2018 Trek Publishing Limited. Website design by Bedazzled Media Limited.
Company Number 11335497. Registered Office: Butterick Building Unit K, 38 New Lane, Havant, P09 2ND

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