The longer you view, the less you pay? | AVRillo

The longer you view, the less you pay?

Tuesday 08 September 2015  / Ruth Montia

Which? carried out a survey on 1,990 members of the public about their experiences of buying and selling property.

The research suggested that older buyers are more likely to take their time viewing a property and that those who took time viewing were also more likely to pay less.

Surprisingly 5% of buyers across the UK bought their property without viewing, and this figure increased when it came to 9% of Scottish buyers.

Most preferred a second look before making their decision, 43% said they visited the last home they bought twice and 21% went for a third view.

first-time and younger buyers commonly spent less time than older buyers viewing and undertaking checks for things like cracks in the wall and damp.

Across all age groups, around 38% said they spent more than an hour looking around the last home they bought. Over-65s preferred to take more time, spending an average of 74 minutes viewing the property, compared to people aged between 18 and 34 who spent just over 49 minutes looking.

Approximately 52% of buyers who spent under 10 minutes viewing their future home paid the full asking price or above and this appeared to happen in locations and at times where the local market was particularly competition.

However, 71% buyers who spent more than an hour-and-a-half looking at their future home paid below the asking price. About 10% of buyers from all categories did not commission a survey.