Over 80% of singles between 20 and 35 do not own their own home. A clear majority say that they cannot afford to buy their own home. This was revealed by a survey carried out for Delta Lloyd in order to obtain a clearer view of single first-time buyers.
Over 80% of singles between 20 and 35 do not own their own home. A clear majority say that they cannot afford to buy their own home. This was revealed by a survey carried out for Delta Lloyd in order to obtain a clearer view of single first-time buyers. More than six out of 10 singles think that owning their own home would make them happier. They even expect that buying their own home would make them happier than having a child or taking a holiday.
Buy a home that needs doing up or spend less on holidays?
23% of the singles surveyed said that they had a funding gap of between
€20,000 and €60,000. For a fifth of singles this is over a hundred thousand. Women in particular (57%) cannot see how they can ever bridge this funding gap. But if it is possible to bridge the gap with financial assistance from their families, 60% of women and 72% of men seize the opportunity.
To increase the chance of finding a suitable, affordable home, a quarter of the singles said they would opt for a smaller home than they had initially planned. Buying a home in need of doing up is also seen as an option. If they were still unable to buy a home, a third of the singles would cut back on going out and a third of those surveyed would cut back on holidays. Just 12% would opt for a less attractive location. 15% were not prepared to make any concessions at all.
‘Hooray a mortgage'
As this survey shows, it is extremely difficult for singles to buy a home. The mortgage costs are too high for them.
Cyril Meijers, marketing manager Delta Lloyd Bank: "Singles need costs to be kept as low as possible and to be offered flexibility. For example, they do not want to have to take out life insurance. It is not relevant to their situation as they do not have a partner. If their personal situation changes they want to be able to take out the insurance then. The ZekerPlusHypotheek offers this flexibility".
Delta Lloyd is keen to help first-time buyers. So the insurer has launched a campaign in which first-time buyers can win one month's mortgage payments free when they take out a mortgage. The website www.deltalloyd.nl/startershypotheek contains all sorts of interesting information relevant to first-time buyers. If they answer three short questions on this site, first-time buyers receive a free booklet entitled "Hoera - een hypotheek!" (Hooray a mortgage!) This informative booklet tells first-time buyers all they need to know about buying their first home.
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