When buying properties, it seems like Australians are spending less time than it takes to watch a movie.
According to a survey by ME Bank, 58% of property buyers spend less than an hour inspecting the home they eventually purchased -- only to find out later that the property has some issues including paintwork, construction quality, fences, and fittings.
Thirty-six percent of these buyers said they overlooked these issues because they instantly fell in love with the property. Meanwhile, 32% cited their lack of inspecting experience and skill.
Also browse: The best mortgage products for first home buyers
In a report for the Gold Coast Bulletin, Universal Buyers Agent director Darren Piper said property buyers must take the proper amount of time to check the property and do some research before sealing the deal.
“After spending weeks or months scrolling through listings and inspecting homes, it is common for home buyers to get complacent once they think they have found ‘the one’," Piper noted. He also stressed that emotions may sometime cloud a buyer’s judgment.
"It’s important to spend more time inspecting the property you have your eye on with several return visits at different times of the day," he said, "Make sure you keep inspecting other properties too, so you can compare and contrast.”
Collections: Mortgage News