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ISCOVER
Staff Reporter
First home buyers are prepared to look at a number of properties before settling on their dream home, new research has revealed.
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According to Mortgage Choice’s recent first home owner survey, the average number of properties viewed by first home owners who have purchased in the last two years is 21.
However, more than one in four recent first home owners admit to viewing 21 or more properties in the quest for an ideal first home.
23 per cent of respondents said they looked at somewhere between 21 and 50 houses before making a purchase and 8 per cent looked at more than 50 properties.
“Buying your first property is one of the biggest financial decisions a person is likely to make in a lifetime.
"The fact that people are viewing so many properties before making a purchase is a positive – it makes sense to invest the appropriate amount of time into researching and viewing potential properties to make sure you are happy with the final decision,” Mortgage Choice spokesperson Belinda Williamson said.
“If homebuyers spent an hour viewing each potential property, the time can quickly add up. However, the hours spent planning and properly considering all your options upfront, can save you from the heartache of making a hasty decision that can either cost you financially or leave you dissatisfied with your decision.”
The survey also found that this high level of buyer due-diligence appears to be paying off.
The research shows that the majority of recent first homeowners hold no regrets when it comes to the purchase of their first home, with less than one fifth saying they have misgivings.
