WHAT TO DO IF YOU NEVER BOUGHT YOUR IDEAL HOME?

What To Do If You Never Bought Your Ideal Home?

Buying a home can be stressful and it is natural that many buyers will review their purchase. Given the sums of money involved with buying a home, you want to be confident that buying the home is the right thing to do. However, you can never be fully certain about anything in life and a recent study carried out by a windows furnishing company, Thomas Sanderson, suggests that many homeowners search for a new home within a year of buying their home.

The study found that 34% of respondents looked for a new home within one year of moving and 7% of buyers looked for a new home less than one month after buying their home! The survey also suggested that one in six property owners are not entirely satisfied with their living arrangements. There was also 13% of respondents who said they were unhappy with their home with problems with the neighbourhood, the price they paid and the location being key factors in the unhappiness.

Are you happy in your home?

The first question was whether the respondent was happy with the home they owned and live in. 16% of respondents said they were completely happy, 30% said they were moderately happy, 20% said they were moderately unhappy and 13% said they were very unhappy. 21% of respondents said they were neither happy or unhappy about their home.

The people who said they were unhappy about their current living arrangements cited a range of reasons for this, with 24% saying they wished to live in a different location, 23% of homeowners said they were struggling to meet mortgage payments and 18% of respondents said they were unhappy with the neighbourhood.

There are many reasons a homeowner will reconsider their purchase

Of course, just because a homeowner has re-examined the market soon after buying a home doesn’t mean they necessarily want to buy a new home. There was a range of reasons cited for homeowners searching for property, and these included:

  • 22% of respondents saying they looked to see what else they could have bought for the price they spent
  • 20% said they regretted buying their home
  • 18% of respondents said they wished to relocate
  • 15% of respondents said they felt as though they made a mistake with their purchase
  • 14% of respondents said they felt they can no longer afford their property

Richard Petrie is the Marketing Director for Thomas Sanderson and he released a statement, saying; “The housing market is a volatile beast, and the fear of missing out on a good house or deal can cause people to rush into buying a property. It’s understandable to be nosy about what else you could have afforded for the same price that you paid for your property, but interesting that Britons are looking to move house so quickly after buying. Take your time when looking for a house and ensure that is 100 per cent right for you before you put down a deposit and go through the process of buying – it’s an expensive process to find out you don’t like the home you’ve purchased, and one that’s not easy or cheap to rectify.”

As Stockport property specialists, we want to ensure you stay in touch with the latest property news. If you are looking for assistance in this area, give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html

 



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