Home Information Packs - What's the Point?

Moving home is one of the most stressful situations anyone will face in life. The introduction of Home Information Packs should be seen as a way of easing the stress and making the whole process run as smoothly as possible for both the buyer and the seller. It is hoped the information provided in the pack will make the sale more transparent and the market more efficient.

Before the introduction of the Home Information Packs, almost 9 out of 10 people stated they were unhappy with the way the housing market operated. Almost a third of sales fell through before completion, leaving many consumers out of pocket. The length of time it took to complete a sale was twice the European average and almost two thirds of properties on the market were part of a chain, with any problems with one home having an impact on all the others in the link. Now, with all the information readily available up front, the transaction time should be much quicker, speeding up the market as a whole.

It is hoped the introduction of Home Information Packs will make buying or selling a property a much better experience for everyone involved. The whole process should be less confusing particularly for first time buyers who may be unsure about all that is involved.

The packs will give much clearer information on the property and will be available right from the beginning of the process so there will be no nasty surprises in store further down the line for the prospective buyer. As a result of this there should be less chance of buyers pulling out at the last minute. The buyer has greater peace of mind, particularly if a full Home Condition report has been included.

As sellers will have to pay to compile a Home Information Pack, it is hoped this will reduce the number of people putting property on the market who are not genuinely committed to selling their home. This happened frequently in the past, with sellers changing their minds and taking the property back off the market again.

The information contained in the packs will hopefully make both buyers and sellers aware of energy efficiency and how this can be improved in their homes. The pack will contain detailed analysis of how each individual property can be made more efficient, not only in saving on fuel bills but also the impact it will have on the environment.

Currently it seems home owners are split on whether the introduction of Home Information packs is a good thing or not. Whether they are beneficial to the housing market remains to be seen.