With the number of first time buyers hitting its highest in 12 years and with more people treading the exciting first steps of the property ladder, developer Countryside delved into the nation’s home buying knowledge to help plug the knowledge gap.
Countryside’s latest Home Ownership Survey revealed that 80 per cent of buyers believe that home buying should be added to the national curriculum, with household bills and credit scoring ranked highly as areas of limited understanding.
Though over 60 per cent of respondents knew what stamp duty was, the survey found that 84 per cent of buyers lacked general knowledge about home ownership, with only 16 per cent knowing everything they needed to know about the home buying process.
Mark Hadfield, Managing Director, Partnerships North, Countryside, said, “Help to Buy has helped more people being able to own their first home and buyers are getting younger, which is a really positive trend. They are financially savvy, but we are also seeing a gap in their knowledge of the home buying process.”