First time buyers are willing to give up their holidays to buy homes.
Recent Abbey research highlights that 53% of would be first time buyers are prepared to sacrifice their holiday, with 49% ready to give up alcohol. 43% would quit smoking, with 1 out of 5 stating that they would return to live with their parents in order to save money to buy a property .
Royal Institution of Chartered Surveyors (Rics) research illustrates that the deposit, fees and stamp duty on the average home totals £32,784, 81.8% of the average income of the couple purchasing the home.
Would be homeowners are making huge sacrifices to build their finances in order to purchase a home. It can take an average first time buyer five years to save for that 5% .
3m Britons even claimed that they would turn off their heating to save for their house .
49% of would be buyers would sacrifice their alcohol intake across the UK, with only 12% of north east residents ready to take this plunge.
The Scots are least likely to go back to the family home in order to save money, with only 7% prepared to move back to their parents compared to 21% across the UK.
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First Time Buyers Willing to Give Up Holidays to Buy Homes
Mon, 05 Feb 2007
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