As the number of first-time buyers (FTBs) is reported to be on the rise, the National Association of Estate Agents (NAEA) reminds buyers of the importance of being prepared before beginning the house hunt.
Latest findings from the NAEA Housing Market Report reveal a big jump in FTBs over the past 12 months, increasing from 18 per cent in August 2012 to 26 per cent in August 2013. This proportion of inexperienced FTBs has not been seen since July 2010.
Jan Hÿtch, President of the NAEA said: “The growth of FTBs in the housing market is really encouraging. However, this means there are a lot of inexperienced individuals searching for a home. Most of these, having had no experience in purchasing a property, will be unsure of the information or procedures involved when buying a home.
“Buying a house can be both exciting and stressful but by planning ahead, FTBs can reduce the understandable state of feeling overwhelmed. Using a trusted agent throughout the process is the best way to navigate the process from start to finish. The agent can provide some very useful guidance and help you prepare before and during the house hunt. It may sound like a lot of effort now, but the work you put in before the search will pay off when you find your perfect home and successfully complete the sale without confusion or delay along the way.
“Providing guidance to these inexperienced buyers can help smooth the whole buying process and relieve some of the stress and uncertainty involved.”
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