Buying a home is far from impulse-buying territory – you can’t just change your mind and return it if you’re not happy after a couple of weeks.
It’s not a decision you can turn back on and that’s why buyers take time to ensure that the property is their ideal and that they are getting the best value for their money.
A study by Online Mortgage Advisor polled 2,000 people who have brought a property in the past 12 months. The results found that over half of the poll spent at least 10 per cent more than they budgeted for. Furthermore, 89 per cent said that they viewed properties that they liked the look of regardless of if they were out of their price range.
What’s the motivation?
The most common reason for buyers going over budget is ‘falling in love’ with a property and feeling like they had to buy before someone else did. Other reasons included the property being in the right location, encouragement to spend more by a partner and the house representing better value for money than those within the budget.
The study proves that if the house is right and fits with the buyer’s vision of their ‘dream home’, they are willing to go above and beyond to secure it. This is why it is important for sellers to increase the chances of this happening by enhancing and drawing on key features the property has.
For advice in making your property one that buyers won’t want to miss out on, call Naylors Estate Agents today on 01858 450 020.