We really like this article that appears on the Moneyfacts.co.uk. It reports on a survey carried out by Nationwide that asks homeowners how far they would go to be able to afford a move from their first (bought) home, up the property ladder into their second home.
- 55% would forgo nights out
- 48% would sacrifice eating
- 33% would cut holidays or weekends away.
Very interestingly – 22% of men and 7% of women would even give up a spouse or partner to move up the property ladder!
In contrast, 21% weren’t willing to forgo anything at all, with 35% holding out for their dream ‘second’ home.
Top barriers for people looking for their dream second home included the ability to find a home that’s within budget (38%) and finding a home in the right location (25%). As a result, 21% are stuck in a house that’s too small for their family and 16% are in an area they don’t like.
A very resourceful 88% of those surveyed would consider buying a property in need of renovation if it was cheaper.
What would you give up (or not!?) in order to achieve your dream home?
Source: Moneyfacts – 19th March 2018