Sacrificing safety to get on the property ladder
As housing prices increase, along with the requirement for sizeable deposits, first time buyers are more likely to consider purchasing a home in a high-crime area in order to get on the property ladder. But what affect does this have on home and contents insurance?
In our recent Aviva Home series, Safe and Secure report released in September 2016, we investigated how the increase of prices in today's housing market is affecting consumer’s purchasing decisions when considering the location of where to live.
It also highlights what people are looking for in a home at different times in their lives and what this means in terms of protecting their properties and possessions.
Key Statistics from the report:
- Our studies indicated that 34% of buyers aged 34 and under were more likely to consider purchasing a home in a high crime area compared with 7% of buyers aged 55 and over.
- More that one-quarter of UK residents takes over five months to implement safety or security changes after moving home.
- Despite this, 52% of homeowners across the spectrum of ages are reported to have accidental damage cover in place.
Want to find out more?
Please read our interactive Safe and Secure report
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