Seven in ten compromise to buy
The survey revealed that nine in 10 homebuyers (90%) weren’t willing to budge on local crime levels, and almost the same percentage again didn’t want to forgo their desired number of bedrooms (86%) or the property’s proximity to schools (86%).
Conversely, three in 10 people (29%) were willing to make concessions on the overall condition of the property, and a quarter were willing to waiver its location (23%), general layout (23%), and whether it had a garden or outside space (24%).
Seven in 10 people (69%) had made concessions on the property they bought, ranging from sacrificing an extra bedroom, to giving up on a garden.
However nine in 10 (89%) said that ultimately they were satisfied with what they gave up. Only 3% of those surveyed said they were dissatisfied.
David Blake, spokesman at Which? Mortgage Advisers, said: “Buyers often start property searches by imagining their dream home, but our research shows that some form of compromise is almost inevitable.
“To be happy with the concessions you make it’s vital to know where you’d scale back in order to remain within budget. By speaking with an independent mortgage adviser early on, you can help ensure your expectations are realistic from the outset.”