10 Dec

Buyers take just 38 mins to buy a home

Buyers take just 38 mins to buy a home

New research suggests that people take an average of 38 minutes to decide if they want to purchase a property.

According to eMoov.co.uk, potential buyers no longer spend as long looking at properties before reaching a decision - even though it may be one of the most expensive purchases they will make in their life.

In many cases, viewers are more informed about the property before they step inside. The internet means that buyers can access a lot of information prior to the viewing, so this makes the decision easier to make.

Close to two-thirds of people view a property twice before making an offer, with ten per cent making their offer after the first visit. A total of 29 per cent didn't decide to buy until they had visited the property on more than two occasions.

Women were more decisive viewers, taking 38 minutes to decide, compared to the average man taking 39 minutes.

Those considering spending more than £500,000 took 40 minutes on average to come to a decision - perhaps reflecting the amount of money involved.

"The fact of the matter is people don’t need to spend as much time on the viewing process as they once did. The reason for this is simple, now when a potential buyer views a house, they are viewing the house and the house only," explained Russell Quirk, eMoov.co.uk's chief executive officer.

He added: "Most potential buyers will know within the first sixty seconds whether or not it is the one for them and the majority of buyers tend to return for a second viewing just to validate their thinking."ADNFCR-1222-ID-801765129-ADNFCR

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