22
Apr
'Lifestyle' should deflect onto property choice
People should purchase homes fundamentally based on their
lifestyles and not because the property will be a large investment,
it has been suggested.
And those looking to "push the boat out" in the coming months may
find that it is difficult in the time ahead because of tighter
lending conditions, business development director at Mouseprice
Jonathan Upton stated.
On top of this, he remarked, more debt is likely to be seen this
year and he urged buyers to maintain an element of caution.
Generally, Mr Upton contended, the emphasis by the British public
on investing is "counter-productive" because consumers still have
to live in their homes even if they are bought as an asset.
"If they fall in love with a property and it's within their price
range then they should buy it, it shouldn't be seen primarily as an
asset, it's first and foremost a home," he commented.
But he added that people's decision to wait and see what happens in
the housing market is primarily down to their individual
situation.
According to Experian, 91 per cent of homeowners in February said
that they do not plan to move house.