Is being a FTB really that much more advantageous when buying a house?

Caraway90

There's a lot of assumptions being made about FTBs here

Surrey_EA

Caraway90 wrote: »

There's a lot of assumptions being made about FTBs here

Such as....?!

Caraway90

Surrey_EA wrote: »

Such as....?!

That the inexperience of FTBs is a problem for the seller. As buyers I think we were really easy to deal with and didn't cause any problems. We had done plenty of research and were not naively sold anything.

sillyhilly

Such as....?!

A few quotes from this very thread:

* they're not that easy a buyer to deal with!
* FTBs can also be jittery/downright annoying as they lack experience of the reality of the process and home ownership in general.
* I'd take an experienced buyer over an FTB every time.
* Estate Agents love FTBs. They can prey on their naivety to sell them overpriced conveyancing, mortgage brokerage, home insurance, etc, etc.
* Dealing with some FTBs can be a little like being stuck behind a learner driver in your car.

You're generalising. There are far more 'dream' FTBs than jittery ones - unfortunately, you just get the latter on this website more often than the former.

And since when were experienced buyers better? The ones who lie about their proceedability? Hide their chain? Try to gazump you last minute as a 'seasoned cash buyer/investor'? These experienced buyers are the same people who frequent MSE daily and complain that they can't sell their house because they've over-priced it.

[Deleted User]

I too was given the impression that FTBers were favourable back when we bought our house. It was only on this forum I learned that it holds little bearing on most people and with some it is a turn off.

I guess the idea is that FTBers do not have a property to sell, so one less link in the chain. Some might also be more flexible on completion dates if they are living with family. Although if their in rented they still have to give notice and might not be that flexible!

Friends of mine were buying a house that was lived in by an older lady, who was downsizing. They were in a bidding war with another person who I think was a single bloke. The lady chose my friends because they have a son and she liked the idea of a young family living there and growing up there as it was where she raised her family. I guess personal and emotional feelings like that can sometimes sway the decision towards the young people and families.

freeof1

Caraway90 wrote: »

There's a lot of assumptions being made about FTBs here

Well maybe that's true but either way it's useful to hear from sellers. Whether they're correct or incorrect doesn't change that there appears to be a theme. As a FTB on the buying side it helps knowing what the general perspective is from sellers.

Surrey_EA

sillyhilly wrote: »

You're generalising

Yep, sure am.

But a generalisation based on over 20 years of selling property of all shapes and sizes, and encountering more than a few FTBs.

sillyhilly wrote: »

There are far more 'dream' FTBs than jittery ones - unfortunately, you just get the latter on this website more often than the former.

Debatable.
My views have not been formed by this website.

sillyhilly wrote: »

And since when were experienced buyers better? The ones who lie about their proceedability? Hide their chain? Try to gazump you last minute as a 'seasoned cash buyer/investor'? These experienced buyers are the same people who frequent MSE daily and complain that they can't sell their house because they've over-priced it.

I'm not sure I'm the only one generalising.

Surrey_EA

Caraway90 wrote: »

That the inexperience of FTBs is a problem for the seller. As buyers I think we were really easy to deal with and didn't cause any problems. We had done plenty of research and were not naively sold anything.

I have no doubt that was indeed the case.

However, that doesn't mean you weren't in the minority.

sillyhilly

Surrey_EA wrote: »

Yep, sure am.

But a generalisation based on over 20 years of selling property of all shapes and sizes, and encountering more than a few FTBs.

Oh you're an Estate Agent? You must be a liar... :T

shortcrust

I think EA’s telling FTB’s that it puts them in a great position is really just part of the ‘routine’. Remember remember remember that sales of any kind is a performance art. Being in an Estate Agents is more like being on a stage than being in an office.