Homebuyers baulk at poor security

Homebuyers baulk at poor security
2008/05/23

Inadequate security measures are a definite turn-off for prospective homebuyers.
This, says Martin Schultheiss, CEO of the Homenet estate agency group, is becoming more evident as suburban homes have to compete with secure complexes and gated estates in an increasingly softer property market.
"Good security has become one of the prime criteria among homebuyers and homes with inadequate security measures are being punished by the market," he says.
Most buyers prefer a home with security in place and are not keen to buy property where they would need to install alarms, burglar bars and other deterrents.
"Apart from the additional costs they would incur to install protection, most are not willing to move into an unprotected home, even for a short while," Schultheiss says.
"And buyers who are prepared to install their own security are increasingly driving a hard bargain when it comes to making an offer to buy. They are calculating the likely costs of top-of-the-range measures and insist that sellers subtract the total from their asking prices."
Buyers are also no longer convinced by arguments that certain residential areas are relatively "safe" or "crime-free" and any owner contemplating selling his home would be well advised to update security.
"It is also important for security measures to be clearly visible. At a minimum this includes burglar bars, security gates, security lights and preferably an alarm system."
For more information contact Martin Schultheiss on 031 266 9850 or click here to visit the website.

Homebuyers baulk at poor security