First-time buyers consider location, size of the outside space and local amenities as the most important aspects when looking for a property.
Fewer than 5% considered plans for development in the area, the condition of nearby properties and signs of subsidence.
Whether property was well maintained was the most frequent concern raised by estate agents.
This was followed by looking for documentation for property alterations and then location.
Peter Dockar, head of mortgages at HSBC, said: “It is important that first-time buyers consider more than just their immediate desires when looking for their first home as otherwise they could well be in for a financial headache further down the line.
“While in the excitement of searching for their first property they may not like to think about the required maintenance or the condition of items such as the boiler and these will be a concern if it is something that they have to pay to fix at a later date.
“Buying a home is a serious financial commitment so it is important that first-time buyers do their homework and are aware of all of the potential costs involved to ensure they can maintain the value of what is after all likely to be the biggest asset for most.”
