Buyers are taking longer to decide when it comes to purchasing a home

Buying a home is arguably the biggest purchase you will ever make so it is understandable that many of us like to take our time on such an important decision.

It’s common knowledge to be as thorough as possible when viewing a home to make sure that it’s right for you, but how long does it take on average for a buyer to make a decision?

New data from eMoov has looked into the average number of viewings and viewing time and discovered that buyers are actually taking 23% longer to make a decision than they were two years ago.

According to research conducted in 2016, it took buyers 53 minutes on average during the viewing process to come to a decision and just over half (53%) came to this decision after an average of two viewings.

In comparison, the same research conducted in 2018 revealed that this process has increased to 65 minutes and 2.4 viewings on average.
There are a number of factors that could play into this, but one of the strongest theories from property experts is that it is Brexit related.
When looking into individual regions it appears that Northern Ireland requires the most time to decide on a home at an average of 78 minutes, which was closely followed by the region of the North West at 77 minutes and East Anglia at 70 minutes.

On the other end of the scale, the region that is the quickest to buy a home is Scotland, only needing 55 minutes to make a decision and the only area taking less than one hour.

In terms of viewings, 56% of buyers only need to view a home twice, 27% required three viewings, 8% needed to see the property four times and 1% even wanted to see a home five times or more. The research also revealed a brave 7% that were happy to submit an offer after just one viewing.

So, what does this mean if you’re selling your home? Well, it appears that buyers are taking their time to scrutinise each property in more detail. While it is common sense to present your home in its best light at all times, it may be worth putting in a little extra work to ensure your home is in tip-top shape.

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