Half Of Homeowners Rushed Into Buying

Almost half of all homeowners in the UK regret buying their home and over half feel as though they rushed into making such a huge life decision.

44 per cent of homeowners would not buy their home if they were aware of the issues they have lived with since completing the transaction with 56 per cent feeling as though they rushed into buying their home, according to a survey compiled by Hillary’s.

In the majority of cases, unknown problems regarding heating the property and the cost of updating persistent plumbing problems led 59 per cent of homeowners to reconsider their home purchase choices.

Many homeowners failed to settle into the area citing neighbours (34 percent) and retrospective issues with the area (29 per cent) as the main causes of frustration with their property.

Tara Hall, a spokesperson for www.Hillarys.co.uk, said:

“Our homes are supposed to be the place we feel happiest, it’s such a shame that most Britons said they wouldn’t want to buy their home again.

“When you are buying a home you want to be completely sure you are happy with it; it’s such a huge financial investment to be making.

“Make sure every evaluation is done so you aren’t stuck with any nasty repair bills and look up the local area to see what others are saying. Do not feel pressured into buying a home you are not sure about and don’t buy one for the sake of buying one.”

“Buying a home is probably one of the biggest and most important things you’ll do, so it’s sad to see that so many people regret their choice afterwards. The process of buying can be so stressful, sometimes it’s easy to feel forced into a decision, or miss key information about the house.”

2 Comments

  • test

    So why the constant complaints about lawyers slowing down the process?

    Are we too fast or too slow? Pick one.

    • test

      Both it would seem. Particularly when recommended by developers

      I am not up to speed on reservation agreements and ask whether these will include a cooling off period by the end of which agents will have to have supplied certain information with financial penalty for failure?

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