Cookies
We use cookies to give you the best possible experience on our website.
Accept All Cookies
Find out more
Cookie Portal
Manage and find out more about the cookies used on this website.
View Cookie Settings
Read Cookie Policy

Accept All Cookies and Close
Close Without Saving
< Back
This website has 3 types of cookies:
Your preferences will not take affect until the next page loads or this page is reloaded.
Strictly Necessary Cookies
Feature Cookies
Performance Cookies
Save and Close
< Back
< Back
Cookie Policy
< Back
Any bedrooms
Any bedrooms
1 or more bedrooms
2 or more bedrooms
3 or more bedrooms
4 or more bedrooms
5 or more bedrooms
Branches selected
All properties
Toggle Filter
Half of us live in homes we don

4th February 2019
Half of us live in homes we don't like

Buyers’ regret: Half of us live in homes we don’t like

The first few weeks after buying a new home should be filled with excited unpacking, musing over paint colours and working out what on earth that switch does.

But a recent article in The Independent has revealed that almost one in 10 of us are so disappointed with our purchase that we spend the first month after getting the keys searching for something better.

New research has revealed that up to 34 per cent of Britons have searched for another home within a year of buying property, including 7 per cent within the first month.

Most either regret their purchase, want to change location or wonder if they could have bought something more suitable for the same price.

And that’s just the people who have completed their purchase recently – those who haven’t had time to outgrow it, experience a change in circumstances or simply had the chance to work out the niggling details that don’t suit them.

The study, by glazing manufacturer Thomas Sanderson, found only one in six homeowners who bought within the last five years are content with their current living situation. More than half of homeowners are either unhappy or ambivalent at best – mostly because of their property’s location, neighbourhood and/or cost.

Worryingly, at a time of historically low rates of interest, almost a quarter of those who are unhappy say it’s because they are struggling with mortgage payments.

Despite recent changes to the way mortgage applicants are assessed for affordability, 14 per cent of those who have bought in the last year say they don’t think they can afford it.

In fact, fewer than half of all those who have bought property in the last five years got the home they actually wanted, the research suggests.

And while most of the remaining buyers have the age-old problem of not being able to afford the home they had their eye on, almost a fifth settled for less than perfect because they were outbid on the property they were really after.

“The housing market is a volatile beast, and the fear of missing out on a good house or deal can cause people to rush into buying a property,” says Richard Petrie, marketing director for Thomas Sanderson.

“It’s understandable to be nosy about what else you could have afforded for the same price that you paid for your property, but interesting that Britons are looking to move house so quickly after buying.

“Take your time when looking for a house and ensure that is 100 per cent right for you before you put down a deposit and go through the process of buying – it’s an expensive process to find out you don’t like the home you’ve purchased, and one that’s not easy or cheap to rectify.”

Leave a comment


0 Comments

Half of us live in homes we don

New mortgage deals for those aged up to 85

Borrowers will be able to take out new mortgages in their early 80s after a specialist lender launched new deals to meet demand from older customers.

Read article

Why now could be the BEST time to buy

Over the last few year it’s been hard for buyers, including property investors, to enter the market and expand their portfolios. But now – for those who don’t follow the herd – it could be the first time for many years to bag a property bargain.

Read article