Love at first sight? It is for property hunters
As featured in The Independent, The Sun, The Mirror, Property Industry Eye, Property Week
In fact, the answer to this questions may well be ‘yes’ as it takes just EIGHT minutes for house-hunters to make their mind up about a property, according to a recent study by Foxtons. Over 2,000 Brits admitted knowing whether they should be getting out their chequebooks or turning right back after less than ten minutes inside a property.
When it comes to viewing a property online, the average person takes eight minutes to choose whether to visit or not – as long as the listing is authentic. More than three-quarters confessed to irritation at a property profile that did not reflect the true state of the home on offer.
Six in ten people find it impossible to see how big the rooms are looking at an online listing, and 49 percent can’t tell how light they are. More than one in ten complained they can’t tell the colour of the walls in rooms and 52 percent can’t understand how overlooked a property is.
A spokesperson for Foxtons, which commissioned the research to launch their new virtual tour by Matterport, said: “While making a decision on a property may only be a matter of a number of minutes, we expect that the need to physically visit a property will remain strong for the foreseeable future. However, a 3D virtual tour can be the most convenient and cost-effective way to start and narrow down the property search for an individual.
“This innovative technology offers an experience similar to that of virtual reality, but with the added bonus of being accessible from the comfort of the customer’s home. Unlike VR, which requires either having a headset at home or visiting an office with the VR headset, a 3D tour makes it possible to walk through the property virtually on a customer’s computer or mobile device.”
Six in ten Brits said it takes longer deciding to buy than deciding to dismiss, while 40 percent waited up to a week before purchasing their property. The study also revealed that it requires only two visits on average to choose a new home – but not before seeing nearly 40 other properties; 28 online and 10 in person.
The spokesperson for Foxtons added: “The survey results show that 50 percent of us would take our friends or family to view our potential new home before making the final decision, and 97 percent involve others in the decision-making process.
“The 3D virtual tour will allow friends and family to visit the property virtually and provide valuable feedback at a time that is convenient to them, without having to leave their home or office, significantly simplifying the process.
“At present, this functionality is available for a select number of new homes and exceptional sales and lettings properties on our books. However, the future plans include rolling this service out to a larger percentage of our stock.”
There were also some fascinating findings for a potential new home’s immediate put-offs – eight in ten respondents said their eyes were drawn to the front door first; should it be scruffy, 15 percent would be instantly dissuaded.
Obvious damp patches would signal an early exit for nearly six in ten Brits, while a house on a main road or cracks in the walls would each send house-hunters home in 40 percent of cases.
If Brits are decisive about their dislikes, they are crystal clear about their most attractive items. Six in ten said flowers in vases were the keys to their heart – and wallet – while four in ten were seduced by scented candles.
A private outdoor plot, private parking spot, proximity to family and green space are also highly desirable features when buying a home.
You can experience the 3D virtual tour of the property here:
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