When looking for a new home, what is the most important criterion? Number of bedrooms? Is it close to the station? Is it the price?
According to the biennial Home Buyer List Report released by Market Financial Solutions (MFS), a whopping 92% of prospective home buyers say access to a garden or outdoor space is most important to them. The square footage (89%) is: Second.
Broadband connectivity (88%) is considered the third most important factor, followed by the quality and finish of the property's interior (85%), proximity to public spaces and parks (84%) and the development of the local area. Situation ( 79%).
Change priority
After a year of lockdown, during which most people spent long hours indoors, property buying priorities seem to have been reassessed and reassessed. For example, the value of being close to a town or city fell from 4th to 11th on the most important list, and access to transportation fell from 7th to 14th.
As more people consider remote working to be a viable alternative to going to the office, the ability to have more space and a garden is firmly at the top of people's purchasing plans and seen as far more important. It's no wonder that it is. than before the pandemic.
In addition to making a home more livable, having sufficient floor space and access to a garden also increases the value of a property, so houses and apartments with these features are considered strong investment opportunities. Please also note that. .
Impact of coronavirus
The report also revealed a number of notable statistics. For example, more than two in five people (42%) say the coronavirus lockdown has inspired them to undertake at least one home improvement project, and one in three (34%) say the pandemic has inspired them to undertake at least one home improvement project. , said their perspective on what is important and when has changed. When it comes to buying a home, almost half (46%) said they were keen to move into a larger property due to the pandemic.
We recently wrote a blog highlighting Merton as the perfect borough for those who value flexible working. If this sounds like you, why not take a look at what's currently on offer?
Perhaps the least surprising finding in the report is that a majority (64%) of 18- to 34-year-olds say the current housing market is too competitive, while only five of those surveyed said the current housing market is too competitive. Two respondents answered that there was currently a housing shortage. The type of property they want to buy.
If you're currently thinking of selling your property in hopes of moving to a larger location, schedule a property valuation to find out how much your home is currently worth. Research shows that almost half (45%) of homeowners undervalue their property by an average of £46,300, so your home's value could be much higher than you expect.
To find out more about currently available properties that match your criteria, search the Foxtons website today.
