16 Mar

First-time buyers ignore best practices

First-time buyers ignore best practices

First-time buyers should be doing more to ensure that they are making the right considerations before buying a property.

According to the latest survey results from HSBC, 35 per cent of people consider the location before they buy, while 27 per cent think about the amount of space they have outside. It also found that local amenities are important for 21 per cent of people.

However, it said other aspects are also important. According to the bank, only six per cent think about the cost of upgrading the property in the future, and just four per cent take the condition of surrounding properties into consideration.

Peter Dockar, head of mortgages at HSBC said: "It is important that first- time buyers consider more than just their immediate desires when looking for their first home, as otherwise they could well be in for a financial headache further down the line."

Some of the biggest changes needed to a home could include weather proofing and winter repairs.ADNFCR-1222-ID-801319733-ADNFCR

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