21 marks key to the door
FIRST-HOME buyers view an average of 21 properties before signing a deal.
FIRST-HOME buyers view an average of 21 properties before signing a deal.
That's the finding of a Mortgage Choice first-home buyer survey, which looked at buyers in the past two years.
It also found that more than one in four looked at more than 21 properties in their hunt for an ideal first home.
Almost a quarter of respondents (23 per cent) said they looked at between 21 and 50 houses before making a purchase, while 8 per cent looked at more than 50.
For some, the hunt wasn't so demanding: 44 per cent made their final decision after viewing 10 or fewer places.
Mortgage Choice spokeswoman Belinda Williamson said buying a first property was one of the biggest financial decisions anybody was likely to make in a lifetime.
"The fact that people are viewing so many properties before making a purchase is a positive it makes sense to invest the appropriate amount of time into researching and viewing potential properties to make sure you are happy with the final decision,'' Ms Williamson said.
"The hours spent planning and properly considering all your options can save you from the heartache of making a hasty decision that can either cost you financially or leave you dissatisfied with your decision.''
The survey also found that most recent first-home buyers held no regrets about their purchase, with less than a fifth (18 per cent) saying they had misgivings. Of those who have regrets nationally, more than a quarter (27 per cent) felt they should have bought in a different area, 26 per cent said they regretted not shopping around more for a property and 21 per cent wished they had waited until they could afford a property that was a closer match to their ideal home.
In the state, only 10 per cent of recent first-time owners said they had regrets about their purchase. Their biggest disappointment (27 per cent) was not buying in a different area.
The survey revealed also that 20 per cent of respondents wished they had been in a more comfortable financial situation before buying.
One in five wished they had opted for a cheaper property; 14 per cent thought they should have waited until they had a bigger deposit; 9 per cent regretted their choice of lender and 8 per cent resented taking on extra debt after they bought.
* The Mortgage Choice 2012 September First Homeowner Survey interviewed 910 Australians who had bought their first home in the past two years.