Most renters want to buy

NEARLY 84 per cent of tenants intend to buy a home within three years according to a survey by myhome.ie. But while over 82 per cent of people surveyed said they would prefer to buy a three or four-bedroom house, less than 6 per cent wanted an apartment and no one wants a one-bedroom apartment. Of the 80 per cent of renters who intend to buy a home, nearly all (97.7 per cent) will be first-time buyers. Over 98 per cent said they wouldn’t pay the asking price and would negotiate.

Nearly a quarter believe now is a good time to buy while 44 per cent say prices have further to fall.

Over 26 per cent are concerned most about securing a mortgage and 23 per cent worry most about being able to afford repayments.

Most seem fairly happy though. The majority of 750 tenants surveyed nationwide (70 per cent) said they liked not having to worry about negative equity; half said they disliked managing relations with a landlord but only 6.7 per cent had a bad experience. Sixty per cent dislike not having control over decor and 70 per cent feel that renting is dead money.