Many of us feel under pressure right now, but when it comes to stressful activities, moving home is one of the most challenging activities people face. With the stamp duty holiday in place, we know many people are looking to move home, and we want to ensure you are fully aware of moving home entails of.
A survey undertaken by Zoopla, which was answered by more than 2,600 buyers, suggests many buyers find the property purchase an emotional and stressful activity.
62% of respondents said they found previous property moves more stressful than they had expected.
The property chain causes problems for many buyers and vendors
One of the biggest challenges in moving home is the property chain. 18% of respondents said they lost or came close to losing their property purchase because of issues with the chain. Only 11% of respondents said the buying process, when involved with a chain, ran smoothly.
34% of respondents aimed to develop a personal connection with the buyers. This step was taken to enhance the chances of the move running smoothly.
Financial issues are problematic in property deals
Close to 40% of respondents said their most recent property move cost more than they had originally budgeted for. 29% of respondents cited additional costs which caused them difficulties during the move. Some of the additional costs listed were conveyancers and surveyors.
44% of respondents said unexpected costs added more than £500 to the cost of their house move. 30% of respondents said they paid more than an extra £1,000 when moving and 15% of house movers said they had to shell out over £1,500.
Buyers regret is a serious issue in the housing market
When it comes to checking specific details about a property, 46% of respondents said they wished they checked the property more vigorously before making an offer. 16% of respondents said they wished they checked with a buyer before agreeing to buy the property.
15% of respondents said they wished to review the strength of mobile phone signal and broadband speed. If you are going to work remotely, you need to stay in touch with the office.
Tom Parker is the Consumer Spokesperson at Zoopla and he said; “Moving home is one of the biggest investments we will ever make so it’s only natural the process inspires a wide range of emotions. Finding that balance between head and heart can often be the most difficult, and this is where agents have a crucial role to play in supporting home movers in their property journey. Agents will have experienced this process hundreds of times so can help not only with finding the right property but also making the purchasing or selling experience as seamless as possible.”
If you have any housing market questions or queries, please feel free to contact us. If you plan on selling your home, we recommend arranging a property valuation to ensure you make an informed decision. At Frank Schippers, we are here to support you in this trying time, and you can call us on 01344 777 888.
