27 June 2013

Garden size number 1

Garden size is the first compromise for home buyers

Our latest survey has shown that potential home owners are most willing to compromise on the size of their garden when searching for a new home. This was closely followed by a downstairs cloakroom.
 
The survey was conducted among independent estate agents from the Move with Us Partner Network and we found that nearly 40% of our estate agents noted that the size of a property’s garden was the first thing to be forfeited when purchasing a new home.

A downstairs toilet was next on the list with 33.5%, location came in third place at 15.4%, followed by the availability of parking at 9.3% and the number of bedrooms at 2.7%.

Our data also demonstrated that the number of property viewings homebuyers completed before buying their new home has also risen. The typical number of properties a buyer viewed before purchasing in the last six months is between 11 and 15.

Robin King, Director at Move with Us, says: “It is likely that the rise in the number of viewings that people are undertaking has grown as a result of the average move cycle increasing to every 20 years or so. People are moving less often now so they aren’t as willing to compromise and are taking more time to find the right property. We may see this change in 2013 if more buyers return to the market and lending criteria becomes more relaxed.”

“In the meantime estate agents should help manage the expectations of their customers so they understand what they can afford in their chosen area. The perfect home rarely exists so it is important to help them to prioritise their ‘must haves’ and their ‘maybes’. Ultimately, having a set plan and clear criteria can save both the estate agent and the customer time and money in the long run.”

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