Love at first sight for SA home buyers - poll

Love at first sight for SA home buyers - poll

Snap property decisions account for most purchases with the kitchen by far the most important room.

According to a new poll by South Africa's leading property listings website, nearly a third of home hunters decide that a property is right for them before they even enter the house - and a kitchen is overwhelmingly the most important room when it comes to the buying decision.

Johan Strydom, general manager of propertygenie.co.za, said that the poll showed that 19% of respondents said they knew a property was right for them when they saw if for the first time, even before they went in.

And 9% admitted to knowing it was the place for them when they saw it advertised online or in the newspaper.

"Together these two categories mean that nearly a third of people have decided before they actually walk through the property. It does go to show that people often buy with emotions and gut feelings."

Forty three percent of people said they knew a home was 'the one' when they viewed it thoroughly for the first time while 12% said they knew after mulling it over.

"Worryingly, 17% of those surveyed said that they are still not sure if they made the right purchase," notes Strydom.

"It really is worth taking time to decide; it's probably the biggest purchase most of us ever make."

When probed on what room was the most important when choosing a home, the heart of the home got the most votes by a factor of more than 2 to 1.

Said Strydom: "Forty five percent of people named the kitchen as the most important room in the house when it came to their buying decisions. And 20% voted the bedroom as the most important, closely followed by the lounge with 18% of the nods.

"It confirms what homestagers and savvy sellers have long known - a good kitchen is hugely appealing even if you just use the microwave!"

Bathrooms garnered 13% of the votes; dining rooms 3% and a games room was seen as the least important room with only 1% of the yays.

Unsurprisingly, given the current tough economic times, 32% of those asked said that affordability was the biggest factor in deciding where to live.

Next was lifestyle the property afforded with 28% of the ticks.

"And 21% of people said that the work commute from the property was their biggest swing factor. We expect this to become increasingly important to South Africans, in line with the global trend," said Strydom.

Proximity to schools and closeness to family and friends a grabbed 12 and 8% of the votes respectively.

The online poll was carried out over October and November 2008 and represents the views of 409 people countrywide.

Hello ooba news

ooba (formerly MortgageSA) welcomed the 0.5% interest rate cut announced yesterday by the South African Reserve Bank which will save South African home owners an estimated R259m in home loan repayments each month, but says more cuts are needed.

According to a new poll by South Africa's leading property listings website, nearly a third of home hunters decide that a property is right for them before they even enter the house - and a kitchen is overwhelmingly the most important room when it comes to the buying decision.

Propertygenie.co.za has entered into a partnership with fractionalownership.co.za to provide access to the latest fractional ownership listings which will be available from the 12 December, 2008.

South Africans spent over R10 billion during the festive season last year. This year ooba suggests carefully planning your holiday season spending to avoid a financial hangover in January 2009. "Festive season debt can take months to pay off in the new year," says Jenny Rushin, Provincial Sales Manager for ooba (formerly MortgageSA).

Weak economic conditions, higher interest rates and the global credit crisis have forced banks to be far more picky about who they will lend money and less generous with their lending rates. But Mary Jane Lefevre, Regional Sales Manager of ooba, said that before you apply for a home loan, there are steps you can take to improve your credit status and encourage lenders to look more favourably on your application.