Seven million homeowners abandon hope of their dream home
According to the research, 1.4 million British homeowners have been in their current property longer than planned for the simple reason that they cannot afford to move on.
The research also revealed that:
– One in five (22%) of homeowners believe they will never own their ideal homes and less than half (42%) think they will one day.
– Younger people (25-34yr olds) are less pessimistic with only 14% having given up hope for their perfect home already but by the time they reach the age of 45 this has doubled to 26%.
– Scots are the most pessimistic with 30% believing they will never own their ideal home and Londoners are the most optimistic with over half (54%) believing they will. However more Scots (33%) actually own their ideal homes already than Londoners (25%).
– More single people (56%) believe they will own their ideal home than those who co-habit or marry (42%).
David Elms, Chief Executive of IFA Promotion, commented, “We all fantasise about our dream house but effective financial planning can help to make that dream a reality. An IFA can help you achieve your financial goals, including the planning necessary to purchase your ideal home. A property is the biggest financial transaction most of us will ever make in our lives so independent advice is crucial.”