Homebuyers becoming more practical with mortgages
When it comes to buying a home in the UK property market, it used to be the case that people would envisage the archetypal scene of them falling in love with their dream property and buying it no matter the price.
However, in times where the economic pressures make the process of deciding ever harder, it has been claimed that many property buyers are now letting their head rule their heart and going with the practical choice.
Dr Jane McCartney, chartered psychologist, said that the way people now view money is different to in the past, and the recession has made it clear that any investment which is not well thought out could come back to haunt buyers.
"When it comes to property purchase and house buying, they are ruled by their heads, as opposed to their hearts, which is a sign of the times. It is more of a practical response than an emotional response.
"There was a difference found between men and women about property purchase which bucks the stereotype of women being emotionally led when actually they saw the financial benefits of moving up the property ladder."
She went on to add that the main difference when people are looking for properties for sale now compared to a few years ago is that they now see the house in question as an investment rather than just a home, and also a long-term financial commitment.
Some of the top considerations for people in this day and age when it comes to buying property all surround the future.
The expert said that it is now the case that buyers will look at how they feel the property will fare in the future, thanks to its location and current state.
It will also be important to think of such eventualities, especially for younger couples, of having children and whether or not the property would be suitable for the extension of a growing family in the long run.
Posted at 04:58 19/07/2012