What Is The Number One Fear of Property Buyers?

Buying a new home is a huge decision, so it's not uncommon for many buyers to have some level of anxiety about the whole process. But what is the reason why there's so much anxiety around buying and selling a home? Well, we all tend to fear the unknown and unfortunately, there are a lot of unknowns in buying a new home.

These unknowns can take many forms. For some, it may be uncertainty about the condition of the home they're considering buying. Are there hidden issues which aren't immediately apparent that could cost a fortune to put right after you've bought it? Or will planned renovation works reveal hidden nasties which throws your timescale out completely? We've all read stories about people buying homes that turn out to be not what they thought they were.

For others, it may be concerns about the neighbourhood or surrounding area. Is it safe? Will property values hold steady or rise? Or worse, will something happen at a later date causing the property value to fall, plunging them into negative equity?

And for many, it's a fear of making a financial mistake. Will the home be a good investment? Will they be able to afford the mortgage payments even though interest rates are rising? Or will the cost-of-living crisis force them into an unmanageable financial position causing them to lose everything?

It's important to remember that these fears are completely natural, and they're something that many buyers experience. However, the good news is that there are ways to address them to make the process of buying a home less daunting.

One of the best ways to tackle the fear of the unknown is through education. Often, when we think something is scary, it's because we don't know enough about it, but once we've learnt more about the subject, the fear tends to disappear. I'm sure there's been many times where you've overcome the fear of something yourself, or you've seen someone with more knowledge about a subject you fear, handle it with confidence and certainty because they knew more than you.

This is the main reason why WiggyWam has decided to dedicate so much energy towards helping to educate homebuyers and sellers, because the situation is largely unknown to them. When you consider that 40% of First Time Buyers won't even consider buying a property for fear of getting it wrong, that's a huge number of people who are stuck renting when they'd probably prefer to be homeowners.

Then consider that most homeowners don't move that often (roughly 7, 10, 15 or even 25 years) and the fact that so much can change during that time. Its understandable that people feel out of their depth and are concerned about being taken advantage of.

Hopefully you can see now why we've taken the time and effort to build a learning centre into our property platform, published Homebuyers Secrets (see www.homebuyerssecrets.co.uk for your copy), written blogs such as this, and take the time each week to answer your pertinent property questions via our Get Your Property Questions Answered webinars.

Ultimately, we want to empower you in your property journey to make it easier, faster, more efficient and more cost-effective than ever before. Because after 25+years in the property game, we know it's the not-knowing that gets people into troubling and confusing situations, or results in them choosing a representative that doesn't return phone calls or emails, even though you, the client are the one paying them a fee!

These things are what makes moving home such a stressful process, because until such time as you've exchanged contracts on your purchase or sale, any party can change their minds at any moment, leaving you out-of-pocket if the whole deal falls through. Paying £2,000-£3,000 or more for the privilege of not moving home doesn't seem like a good deal to me!

There are things you can do to protect yourself and speed up the whole process, which is exactly what WiggyWam will help you to achieve. To us, it seems crazy that people are asked to spend their life savings and commit to a lifetime of financial debt and yet there's very few resources available to them from people who have been there and done that and got the T-shirt. That all changes with WiggyWam.

If you haven't joined us and set up your profile yet, what are you waiting for? Visit www.wiggywam.co.uk/userj to grab your free profile now and take the first steps towards navigating the home moving process safely and securely.

Another way to remove the fear of the unknown is by doing your research. This means looking into the condition of the property (or getting a surveyor to do it for you), the neighbourhood (including driving round the area at different times of the day & night), and the financial aspects of the purchase (by speaking with a mortgage broker to understand your budget and what you can afford).

Finally, you can address a lot of the fear of the unknown by working with a competent estate agent who can handhold you through the process. An experienced agent will be able to provide you with information and advice, and they'll be able to answer any questions you may have. They can also help you navigate any potential red flags or issues that may come up during the buying process.

In conclusion, the number one fear of property buyers is fear of the unknown. However, by joining WiggyWam, grabbing your copy of Homebuyers Secrets, doing your research, and working with an experienced estate agent, you can alleviate much of the fear and feel far more confident in your decision to buy your new home. With the right preparation, education & knowledge, and with WiggyWam by your side, you can make the process much less daunting, and find the perfect home for you and your family. 

ABOUT WIGGYWAM

We want to build the biggest network of quality Solicitors, Estate Agents, Lenders, Surveyors, Removals (and other professionals involved in the homemoving process) whose mission is to provide excellent customer service. We want to make it easier for home buyers and sellers to find those quality professionals, communicate with them and if they are buying or selling a home, collaborate with all parties involved in the transaction in one space.

We don't want under-performing professionals in our network. We want to be able to guarantee to the public that whoever they choose on the platform is working to an agreed standard level of service that puts the consumer at the heart. If that's you, we'd love you to join us! All the tools you need to achieve these standards are built into WiggyWam. You don't need fancy tech, there are no integrations needed. Just register, invite your contacts to join and you are good to go! What have you got to lose? 

To find out more and register simply click on the profile type below that best represents you: