Study: Home-buying process ‘fraught with difficulties’
September 21, 2007 by admin
Filed under News, News-Mortgages
A new study by AA Insurance has found that prospective homeowners are increasingly wary of buying a new home.
The survey found that buying a house tops the list of daunting prospects among young people ahead of getting married or divorced and starting their own business.
Discontent stems from a range of sources, with 29 per cent saying they found the whole home-buying process difficult while one in ten harboured serious concerns about hidden faults.
Estate agents in particular do little to assuage the fears of homebuyers as 62 per cent of respondents said they did not trust them, placing them only marginally behind politicians (73 per cent) in terms of general unscrupulousness.
And even once homebuyers have taken the plunge it seems almost three in ten find they are unsatisfied with their new dwelling after moving in.
Janet Pell, head of AA Home Insurance, commented: “For most people, buying a home will be the most important purchase they make in their lifetime, so it’s really important to get it right and make sure you have no regrets once the contract is signed.”
She added: “Once you’ve found your dream home, make sure you shop around for the best deal on your mortgage, surveys and home insurance”.
