Many potential purchasers “can’t navigate the buying process”

A new survey shows how many would-be home purchasers feel uncertain about how to go about it.

A Barclays study shows a lack of confidence in navigating the process of buying a home also holds many movers back. 

Six in ten adults (60%) feel confident in their understanding of and ability to navigate the home buying process, but more than a quarter do not (28%). 

Among those lacking confidence, the biggest areas of uncertainty are the conveyancing and legal process (37%) and understanding taxes and fees (37%), followed by managing paperwork and documentation (32%).

For younger consumers, the challenges are more focused on affordability and finance. 

Gen Z adults cite saving for a deposit (39%) and understanding how much they can afford to borrow (36%) as areas where they feel least confident.

Jatin Patel – Head of Mortgages, Savings and Insurance at Barclays – says:

“Homeowners also need confidence that they can navigate the process of buying, selling and financing a move. 

“Supporting mobility throughout the market, from first time buyers getting onto the ladder to homeowners right-sizing into properties that better suit their needs, will be key to helping more people achieve their housing ambitions.”

Kindly shared by EstateAgentTODAY image courtesy of Adobe