The £10k-a-minute decision: Buyers spend less than half-an-hour viewing a property before taking the plunge
- 25 mins and 30 secs is average time people view a home before buying
- Buyers would spend double that on a Location, Location, Location episode
- For a £250,000 home that equates to a £9,804 per minute decision
- Main reason for snap decision is to not disturb current owners too much
Home hunters spend an average of just 25 minutes and 30 seconds viewing a house or flat before making up their minds to buy - less than half the length of an episode of Location, Location, Location.
Purchasing a property is the biggest financial commitment many will undertake, but many let their heart quickly rule their head. For a £250,000 home, the property buying decision costs a whopping £9,804 per 60 seconds of thinking time.
The biggest reason for quick decisions is fear of putting off the vendor by spending too much time nosing about, according to research by Barratt Homes.
Purchasing a property is the biggest financial commitment many will undertake, but many let their heart quickly rule their head. For a £250,000 home, the property buying decision costs a whopping £9,804 per 60 seconds of thinking time.
The biggest reason for quick decisions is fear of putting off the vendor by spending too much time nosing about, according to research by Barratt Homes.
"Main reason for snap decision is to not disturb current owners too much" Viewings are expected events and are a crucial part of putting your home up for sale. Estate agents showing to property to potential buyers must coordinate things properly with the current owners to make sure this point is covered. Sellers or current owners are likely to oblige to this request if they wanted to be sure they're going to get the price they want to sell the house for. Buyers, on the other hand, owe it to themselves to carefully look into the details of the property they want to buy before they take the plunge. As we have often said, it's huge financial commitment and you wouldn't want to regret it in the future if, for instance, you failed to scrutinise the property before viewing it. Of course, a survey might be necessary but it's always important that you have personally seen what's great and what could be wrong about the house even before making an offer. |
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