24 Aug

Most buyers willing to spend more on dream home

Most buyers willing to spend more on dream home

Many property buyers and renters are willing to pay more for their home if it meets their needs, claims new research.

A survey conducted by Ocean Finance found 62 per cent of buyers would pay up to ten per cent more for their ideal home despite setting an initial budget.

Those searching for property in London, Scotland and Northern Ireland were the most open to spending more to secure that perfect property.

Just one in four would not be willing to go over their budget, while two per cent would be content with going 20 per cent over to live in their ideal home.

“Whether we are renting or buying a property most of us have a budget that we can afford in mind. But three quarters of us are happy to ignore the budget and stretch our finances to get the home that ticks all our boxes,” said Ian Williams, Ocean Finance spokesperson.

The research showed younger buyers would the most open to spending more to get a perfect property, with 80 per cent of buyers under 34 willing to stretch their finances to pay an increased monthly rent or mortgage.ADNFCR-1222-ID-801824168-ADNFCR

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