Tuesday, April 23, 2019
Home Business Even more difficult than buying your first home - problems waiting for...

Even more difficult than buying your first home – problems waiting for successful buyers

Almost two-thirds of respondents who want to take their second step on the property manager find it more difficult than first-time buyers, a survey found.

About 60% of the "second stepper" people – who were first buyers and now want to buy their next home – say it's harder to get the real estate ladder up than it ever was, found Lloyd's bank

Just over a third (35%) of potential runners-up have the impression that it is currently more difficult to sell their current property than 12 months ago.

Their struggle is so great that more than a quarter (27%) are considering making house improvements if they can not sell their property within the desired timeframe.

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The respondents were on average three and a half years in their first plot. They are expected to wait another 18 months before taking the ladder up.

On average, secondary drivers plan to stay in their next home for about five years – but more than a quarter (27%) believe that this property will be their "forever" home and they will not move.

However, the majority (59%) still believe they own one or two more properties before they reach their dream home.

More than half (52%) would like it to be a single-family home.

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So sell your house for more

As for the properties of the property, three or more bedrooms and a driveway, garden, garage and eat-in kitchen were also on the wish list of the second stepper.

Many are thinking of leaving their current location to find a better lifestyle, lower housing or better job opportunities, the survey found.

Andrew Mason, director of mortgage lenders at Lloyds Bank, said: "If they are considering the next real estate purchase, the second steppers are usually looking for more space, a better location and a garden, but first time sellers now say they are waiting longer need to buy the bank next step in the current buyers market.

"Ascent ladders for second-graders are often tied to their goals in life, which means they have to wait until they've raised enough money or found the right property, but this is an important step as second-hand moveers help build real estate for first-time buyers Market. "

More than 500 first-time buyers were surveyed, who now want to buy their second home.



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