Blog: New Home Buyers: Love At First Sight


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New Home Buyers: Love At First Sight

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Blog by Mary Roy | May 2nd, 2013

Love at first sight for majority of new homebuyers, says BMO survey

Looking for a perfect home can be an emotional roller-coaster, but a new study suggests finding the right property often comes down to love at first sight.

Home Buyers with Baby
The Bank of Montreal (TSX:BMO) found in a recent study that:

  • 80% of prospective homebuyers know if a house is the right one for them the moment they step inside.
  • house hunters visit 10 homes before they decide to buy a home
  • 68 % say they’re willing to settle for a property that’s not “perfect.”
  • 33% say they feel rushed into making a purchase, with that figure rising to 39% among first-time homebuyers.

Those looking for a new home also express a wide variety of emotions:

  • 48 per cent saying they’re excited
  • 41 per cent saying they feel cautious
  • 31 per cent saying they’re optimistic
  • 25% of those polled say they’re stressed through the process
  • 21% say they feel anxious.

First-time homebuyers are also more likely to feel a wide range of motions because the process is so new to them.  At Mary Roy & Team we make sure ease all of the first time home jitters by going the extra mile and putting these worries to rest.  With over 60 years of combined experience helping Buyers find their dream home you will be in good hands.

“It’s important to take a practical approach when house hunting and have a clear idea of where you stand financially to ensure you make a responsible home buying decision,” said Laura Parsons, a mortgage expert with BMO.

“Doing research ahead of time and setting realistic expectations can help you avoid making an uninformed or rushed purchase.”

The study also looked at the motivations behind a home purchase. It found 44 per cent buy because they felt it was a good investment and 37 per cent say it was a good time to jump into the market.

Twenty-three per cent say exploring a different neighbourhood was one of the reasons why they bought a new home, while 18 per cent say it was because they were expecting a baby.

Whatever your reason for Purchasing a home give Mary Roy & Team a call at 905-426-7515 and let us show you how to save thousands when you buy or sell!  

Source: Linda Nguyen, The Canadian Press   photo