Who do you trust? The stresses of buying and owning a home

See our infographic now for First Time Buyer Stresses

Key findings:

Among homeowners, the top 5 most stressful aspects of homebuying are finding the right home (41%), hidden costs such as stamp duty and survey (37%), the conveyancing process (37%), completion (36%) and securing a mortgage (26%).  For homeowners, issues around the property chain are also raised.

Affordability is paramount for aspiring owners.  Top stresses for aspiring owners are securing a mortgage (68%), hidden costs (66%), finding the right home (46%), paying the right price (39%) and the conveyancing process (35%). In addition, saving for a deposit, getting on the property ladder, house prices and repaying the mortgage are of concern.

Homebuying stresses vary by demographic group. Women are more concerned about being gazumped.  Younger adults (under 45s) are more worried about securing a mortgage. (see notes to editor 4 & 5)

Ongoing maintenance, finding honest tradesmen and ongoing bills are top homeownership stresses among homeowners and those who aspire to own. Women are more concerned than men about DIY/ongoing maintenance and finding honest tradesmen.  (see notes to editor 6)

Trust of professions related to buying our homes is generally low. Aspiring homeowners trust surveyors (62%) and solicitors (52%) more than banks/mortgage lenders (35%) and estate agents (20%). Surveyors (59%) and banks/mortgage lenders (61%) gain a little more trust amongst homeowners, while their view of estate agents (20%) and solicitors (61%) remain the same.

Trust of professions related to owning our homes is lowest for builders (34% of homeowners; 35% of aspiring homeowners), utility companies (29%:38%) and home insurance providers (38%:35%). Architects are trusted the most (60% among homeowners; 65% among aspiring homeowners).

Our report, Homeowner & Aspiring First Time Buyer Stresses & Trust, uncovers the areas of most stress related to buying and owning homes.  Our infographic, Your first time (and below) highlights what stresses aspiring first time buyers expect to come across on their path to homeownership.

Paula Higgins, Chief Executive of the HomeOwners Alliance said: ‘’Homeownership remains the dream for many but things aren’t always helped by the professionals. There are trustworthy and conscientious people out there who want to help you look after your home but a few rotten apples can spoil it for everyone. Homeowners and aspiring homeowners need to take control of the situation – your home is one of your biggest investments so research and seek out independent advice about professionals before signing on the dotted line.”  

Methodology:

Total sample size was 2056 adults. Homeowners sample size: 1393. Aspiring homeowners sample size: 442. Data weighted and representative of all UK adults (aged 18+). Fieldwork was undertaken between 18th-21st January 2013

Subscribe

Notify of

new follow-up comments new replies to my comments

Label

Name*

Email (will not be published)*

Δ

Please send me the HOA newsletter!

Label

Name*

Email (will not be published)*

Δ

Please send me the HOA newsletter!

0 Comments

Inline Feedbacks

View all comments

Load More Comments

Katherine Binns Director, Research

Related Articles

Step by step guide to buying a house

How to sell your house: The step-by-step guide

How long does it take to buy and sell a home?

• Sign up to our FREE weekly newsletter

  for the latest news, advice and exclusive money saving offers

  Read our privacy policy

Latest News

Half of parents wish they could help children buy a home and 1 in 4 feel guilty they can’t

 April 15, 2024

New Homes Quality Code Review

 March 28, 2024

Only 40% of UK adults know what conveyancing is

 March 14, 2024

Almost 2 million aspiring homeowners don’t think they’ll follow in the footsteps of their parents – the generation gap worsens

 February 26, 2024

View all news articles