Potential home owners are viewing between 10 and 15 properties before deciding on a new home, according to latest research.
A survey from Move with Us has revealed that potential home owners are viewing a record number of properties before committing to buy their ideal home. 20% of estate agents note that many buyers view between 11 and 15 properties before deciding on the right one to buy.
Robin King, director of Move with Us, said the move cycle is becoming much longer due to the lack of available funding in recent years.
He added: “Consequently buying property is a longer term investment than previously seen and it’s factors such as these that are leading to home owners viewing more properties and doing more research to ensure their decision is sound.
“Estate agents should hold open house sessions to cope with the increasing amount of viewings buyers are completing, therefore freeing up more time qualifying and identifying the motivated buyers from those that are still in the early stages of moving.”
The survey also revealed the factors that potential homebuyers are most willing to compromise on when looking for a new home. The results were as follows:
- Size of garden – 40%
- Downstairs cloakroom – 33.5%
- Location – 15.4%
- Availability of parking – 9.3%
- Number of bedrooms – 2.7%