When you are looking for a new home, what is the most important criteria? Is it price? Is it proximity to a train station? Is it outdoor space?
According to the biyearly Homebuyer Wishlist report released by Market Financial Solutions (MFS), 92% of those looking to buy a property consider access to a garden or outside space to be the most essential factor, with square footage (89%) coming in second.
Broadband connection (88%) is believed to be the third most important element, followed by the quality and finish of a property’s interior (85%), closeness to public spaces and parks (84%), and how built-up the local area is (79%).
A need for more space
Following over a year of lockdown, during which the a lot of people spent extensive periods of time indoors, property purchasing priorities have been revaluated. Being near a town or city, has slipped down the list from 4th to 11th, while access to transport links fell from 7th to 14th.
With a shift in numbers of people seeing remote working as a priority, people are requesting more space and the ability to use a garden as a must have on their lists.
The report also shows as well as making a home more desirable to live in, having plenty of floor space and being able to access a garden adds value to a property, so houses and flats with these features are regarded as strong investment opportunities.
The impact of coronavirus
The report shows that the pandemic has lead to two in five people (42%) saying that the coronavirus lockdowns inspired them to undertake at least one home improvement project, one in three (34%) said that the pandemic altered their perspective with regard to what is important when it comes to buying a house, while almost half (46%) said the pandemic has made them keen to move to a more spacious property.
While 64% of the younger 18-34 year old group said that the current housing market is too competitive, while two in five of the individuals surveyed said that there is currently a shortage of the type of property they would like to buy.
Book a free valuation with a valued Estate Agent
If you are currently thinking of renting or selling your property in the hopes of moving somewhere bigger, book in a free property valuation to see how much your home is currently worth. Research has found that nearly half (45%) of homeowners undervalue their property by an average of £46,300, so your home could be worth far more than you expect.
To get a better idea of the properties that are currently available and match your criteria, get searching today on the Harry Charles website.