22 Apr

'Lifestyle' should deflect onto property choice

'Lifestyle' should deflect onto property choice

People should purchase homes fundamentally based on their lifestyles and not because the property will be a large investment, it has been suggested.

And those looking to "push the boat out" in the coming months may find that it is difficult in the time ahead because of tighter lending conditions, business development director at Mouseprice Jonathan Upton stated.

On top of this, he remarked, more debt is likely to be seen this year and he urged buyers to maintain an element of caution.

Generally, Mr Upton contended, the emphasis by the British public on investing is "counter-productive" because consumers still have to live in their homes even if they are bought as an asset.

"If they fall in love with a property and it's within their price range then they should buy it, it shouldn't be seen primarily as an asset, it's first and foremost a home," he commented.

But he added that people's decision to wait and see what happens in the housing market is primarily down to their individual situation.

According to Experian, 91 per cent of homeowners in February said that they do not plan to move house.ADNFCR-1222-ID-18562572-ADNFCR

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