Home Buyers Moving Ahead with Plans

Posted 2008-01-10

Many home buyers continue to move ahead with their plans, according to a recent study.

 

Data from a recent survey by Fool.co.uk reveals that 38 percent of those surveyed who said they would be buying a home soon expected to complete the transaction this year, and another 34 percent will do it in 2009.

 

Many people who have been planning to move into homeownership will be encouraged to go ahead by current changes in the market, says David Kuo, head of personal finance at Fool.co.uk.  Too many people ask the wrong question when beginning the process, however.  They should be asking themselves what they can afford to repay rather than how much they can borrow, says Mr. Kuo.

 

The report indicates that over the next five years, sellers will outnumber buyers at a ratio of about five sellers for every four buyers.

 

Fool.co.uk is an online financial community that helps rethink their relationship with money.

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