To understand what the biggest property red flags are, Gaffsy surveyed 2,001 Brits to reveal what would put them off purchasing a home.
The most common reasons why people would be put off purchasing a home are mould and damp, with almost half (49%) of Brits agreeing they wouldn’t buy a home due to this. Fixing damp and mould can be expensive, and it can affect your health, with symptoms including breathing problems, skin irritation and fatigue.
Noisy neighbours and noisy areas are the next biggest red flag for Brits purchasing homes, with 2 in 5 (43%) agreeing that it would put them off buying a property. The property being overpriced is the third biggest red flag, with over two-thirds (39%) of Brits agreeing location is an important factor when it comes to buying a property.
Do men and women have the same property red flags?
When comparing the data between men and women, there are some key differences in what they view as some of the biggest red flags when purchasing a property.
The top three red flags are the same, mould/damp, noisy neighbours/area and high asking price, for both men and women. However, location (35%) is men's fourth biggest red flag, whereas unusual smells (41%) are women's fourth biggest red flag.
Women seem to care more about the home being on a floodplain, with 2 in 5 (41%) British women agreeing that this would put them off buying a home, whereas just under a third (31%) of men agree.
What are the different generations' property red flags?
All ages agree that mould and damp are the biggest property red flags, ranging from 33% of 16-24-year-olds to 63% of those aged 55 and over.
25-34-year-olds, 35-44-year-olds and those aged 55+ all agree that noisy neighbours and noisy areas are the second biggest red flags when purchasing property, with 33%, 45% and 55% Brits agreeing, respectively. On the other hand, 16-24-year-olds and 44-54-year-olds say that a high asking price is the second most important property red flag.
Interestingly, location only features in 16-24-year-olds top 3 red flags, the other age groups have high asking prices, unusual smells and homes being on a floodplain in their top property red flags.
