New buyers of property are turning to social media platforms to help them through the process
A quarter (25%) of first-time buyers aged 18 to 35 used a social media platform for advice during the initial process of actually purchasing a property, analysis from ‘gradual homeownership’ provider Wayhome found.
The most popular platform was Facebook, followed by Instagram and then TikTok, with the most common area of advice sought by first-time buyers being the time it takes to purchase a home.
They also utilised social media most frequently to seek advice on how to go about their initial property search, the costs incurred when buying a home, how to make an offer on a property and how to hire a solicitor or conveyancer.
Nigel Purves, co-founder and CEO of Wayhome, said: “Social media can be a great resource of information, guidance, hints, tips and hacks and so it’s no surprise that the nation’s first-time buyers are turning to the likes of TikTok, Facebook and Instagram when embarking on the path to homeownership for the first time.
“Having grown up using social media, it’s a natural resource for them to use, helping them to easily navigate the otherwise daunting prospect of purchasing their first home.
“Of course, it can be a source of fake news and so it’s important that when seeking advice, you do it from verified sources and profiles. The good news is that there are a host of bonafide property professionals from across the sector providing informative and accurate information across social media, helping you to get ahead of the game when purchasing your first home.
“You should also find this is the case when it comes to actually buying but not all agents will offer the same degree of expertise and advice. At Wayhome, our team of experts helps you handle every stage of the property purchasing process, helping to reduce the stress that many first-time buyers experience when getting that all important first foot on the property ladder.”
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