What did homeowners say was the thing that scared them the most when selling their home?

What did homeowners say was the thing that scared them the most when selling their home?

New research from online estate agent, eMoov.co.uk, has confirmed that as ever, it's money, stress and time constraints that remain the biggest fears for UK homeowners when selling their home.

eMoov surveyed over 1,000 UK homeowners and asked them ‘when selling a property, what are the top three things you fear the most?’

Despite UK homeowners currently enjoying a very buoyant UK property market, securing the right price still tops the list of fear factors.

55% of those asked said not getting the price they wanted or needed was their primary fear when selling, with the stress of the selling process the second biggest fear factor for 46% of homeowners.

Time constraints completed the top three fear factors, with 43% of homeowners afraid they wouldn’t be able to sell their home in the time they needed to.

Other fear factors stated by UK homeowners included paying too much in estate agent fees (36%), finding a new property to live in upon selling (22%), dealing with the buyer (14%), picking the wrong estate agent in the first place (12%), getting a mortgage for their next home (10%) and that their new property might drop in value in the future (4%).

Rank

Fear Factors

% of Sellers

1st

Not getting the price wanted or needed

55%

2nd

The stress of it all

46%

3rd

Not being able to sell in the time needed

43%

4th

Paying too much in estate agents fees

36%

5th

Finding a new property to live in

22%

6th

Dealing with the buyer

14%

7th

Picking the wrong estate agent

12%

8th

Getting a mortgage for the next property

10%

9th

The next property dropping in value in the future

4%


Founder and CEO of eMoov.co.uk, Russell Quirk, commented: “Price is always going to be the primary concern for UK homeowners and it is only natural that securing the best price will weigh heavy on a seller’s mind. Generally speaking, our home is the most expensive asset we are ever likely to own and for the majority of us, our home is our nest egg, setting us up for retirement when we do finally sell and downsize. So it’s understandable that it be the biggest fear during the selling process, as that couple of extra thousand gained or lost, can make a big difference in the grand scheme of things.

Our previous research found that selling your home is more stressful than your wedding day and so it doesn’t surprise me that this also ranks highly amongst UK sellers. When you add time constraints to an already laborious process, you can see why selling a home in the UK can seem a daunting task and evoke such feelings of fear.

I have to say I am a little surprised that paying too much in estate agent fees didn’t make the top three. High street estate agent fees have rocketed in line with house prices over the years despite no additional service being offered, some may argue the service has even declined, and so the dated commission fee structure is one of the biggest obstacles to moving home.”

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Latest Comments

Oliver Conway
Oliver Conway 18 May 2017

Making a neat inventory is a good idea, but if the seller is not willing to provide it, can the buyer demand it?

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Bertrand
Bertrand 17 May 2017

First step to nationalisation of the private rented sector IMHO. Nanny state poking their noses into things yet again. I object, as a decent landlord, sometimes having to deal with some pretty awful tenants,...

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Izzy
Izzy 16 May 2017

This is such a great a post. I love the detail you've gone into. It's a very useful article for helping those who are looking at deciding which sector they would like to go into! When I first started investing...

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paul burnham
paul burnham 30 Apr 2017

Jeremy Corbyn's pledge that a Labour government would build 500,000 new council houses must electrify the general election campaign. Reliance on markets and the profit motive has brought huge housing-related...

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CommercialTrust
CommercialTrust 28 Apr 2017

Sadiq Khan?s announcement of an online database of landlords and letting agents who have been convicted of housing offences, appears on face value to be a variation of the already implemented Database

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warren
warren 26 Apr 2017

You're very welcome Mary! Glad you enjoyed them :)

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Mary Ward
Mary Ward 26 Apr 2017

Thank you for the wonderful ideas. First impressions can make or break a deal. It's sadly that many homeowners drop the kerb to create an off-street parking space.

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Tony Gimple
Tony Gimple 14 Apr 2017

I'm not at all surprised that so many landlords are still confused about what the tax changes really mean and how it will affect them. In particular, the blind rush to incorporation is leaving landlords...

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MH
MH 13 Apr 2017

You are right that the bank holidays are going to be spoiled in looking for the properties. But people who want to sell their property and looking for the better relocation, they can get benefits of this...

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bnellyb
bnellyb 08 Apr 2017

There will be an exodus of private landlords over the next 5 years as tax changes take effect, private landlords provide an important service to the rental market, why do housing associations and councils...

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Fred Cassman
Fred Cassman 07 Apr 2017

"Make it look like you are at home": often people forget this and share on facebook their location!

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jared townsend
jared townsend 05 Apr 2017

It'll be interesting to see how & if the Government's asset sale regarding mortgages helps

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