Before you start your property search, it’s difficult to put a figure on how many houses or properties you’ll look at before you buy. It can depend on loads of factors – the area you’re looking in, the current market and how fussy you are!
But recent research from housebuilder, Strata, has come up with some statistics and their findings estimate that on average, buyers usually look at between 4 and 8 properties before they buy. It might not sound like a lot, but when you take into account how busy people’s schedules are, their keenness to find a property and the amount of research people do online, it doesn’t surprise us.
More time to Research
We think it’s great that this research points towards people making more considered decisions about the property they want to buy. People are obviously doing lots of their own research in their spare time using online tools. They can now find out all manner of things online, including information about local areas, school catchment areas and whatever has been provided by estate agents in their listings too.
31% of potential buyers will even only view up to three properties, which shows the different approach some people have and how quickly some buyers will commit, depending on their requirements.
There’s still a cohort that will try more before they buy though, with Strata’s research showing that 10% of buyers will view 16 homes before buying.
Interestingly, there seems to be a generational divide when it comes to house viewings. Older buyers who are existing home-owners tend to have far more requirements and will view several more properties than a younger co-hort. They have more requirements, already have their own home and are looking for something specific that will prompt them to sell their own home.
On the other hand, first-time buyers are much more likely to view fewer properties. This could be down to a keenness to get on the housing ladder, a fear that a property will get snapped up and the fact that they don’t have as many requirements. For example, for existing homeowners, 78% said that the ‘status’ of an rea was important to them as opposed to 61% of first-time buyers.
What are Buyers Looking For?
Of course, there are so many individual factors that come into play when searching for a property. Most buyers will be looking for similar traits when viewing a property in terms of cleanliness, space, maintenance, closeness to local amenities and transport links and homeliness.
A property could be just what someone is looking for that has specific requirements, but getting the basics right means that a seller can appeal to more people.
If you need any help or advice with buying or selling a property then get in touch with our team at Home Estate Agents today.