Buying a new house, whether it’s your very first home, or a new home, is usually an exciting time, however, what happens when a few months after the move, you feel disappointed and feel you have made the wrong decision?
Research
Recent research has shown that up to 34% of house buyers start looking for a new home within 12 months of moving and 7% of those start looking to move again within the first 4 weeks!
Life Changes
The most common reasons given by unhappy house buyers is they don’t like the location, or feel they could have bought a more suitable property. There are also unexpected life changes which cause a property to become unsuitable, such as a change in employment, unexpected pregnancy or a marital breakdown.
Finances
Of the house buyers who stated they were unhappy with their new home, 14 per cent blamed financial pressures and said even though they have been approved by the mortgage lender, they felt they couldn’t afford the repayments. Making sure the finances are in place and having easy to read conveyancing information to help with this, will help buyers feel confident and make the planning easier.
Disappointment
Dissatisfaction is also cited as a reason people don’t feel happy in their new home. For people who haven’t been able to afford the house of their dreams, or who have been outbid on a property they really wanted, this can be difficult to accept and they will need to overcome their feelings of disappointment.
The best advice is to not rush into a decision and be sure the property you are buying, is the home you want to live in. Don’t be pressured into putting a deposit down, as moving is an expensive process, with stamp duty, conveyancing and removal fees all needing to be paid up front. Accessing easy to read conveyancing information and calculating the moving costs in advance, is essential to avoid unexpected costs.
Take your time
As well as coronavirus, Brexit has also had an impact, with many buyers waiting to see how the market responds. Whenever you decide to move, prepare for an emotional journey and as one of the most expensive purchases you will make in a lifetime, be sure to get it right. Trust your instincts, be comfortable with your decision and take your time.