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People 'buy properties out of emotional attachment'
21 April 2008
Homebuyers often end up with homes they had not intended and a larger mortgage because they become 'emotionally attached', it has been claimed.
According to property website Rightmove.co.uk, people look at a house with the best of intentions to base their decision on location, price and size factors, but often end up purchasing property simply because it has made a positive impression on them.
Miles Shipman, commercial director at Rightmove.co.uk, noted: "Whilst there are basic rules about house buying, emotion comes into it an awful lot when people are emotionally attached to a property and it creates a good impression on them when they go and look at it.
"Properties hit different hotspots for different reasons or sometimes people don't really work out what they want until they've viewed a lot of properties," he added. "There are certain basic criteria in terms of price, location, transport and travelling distances to local amenities that are particularly important."
According to a survey published by mortgage provider Nationwide last year, 97 per cent of people believe that location in a nice surrounding area is an important factor when choosing a property, while 41 per cent rated finding a home in the catchment area of a good school as a priority.
