One in four Britons is looking to buy a new home in the next five years but, interestingly, being close to family or having more space aren’t the most important factors, says Santander Mortgages.
According to a survey by the group, more and more people are becoming less concerned about the house itself and more about what the property is close to.
The findings show that the average Brit would be willing to pay £6,297 ($US9,966) extra to live closer to work or £6,900 ($US10,920) more to move to a safer neighbourhood.
“We are becoming a recreation nation as we look to minimise the amount of time we spend travelling to and from work, and maximise the time we can spend enjoying ourselves playing sports, enjoying green spaces and socialising in bars and restaurants,” said Miguel Sard, Managing Director of Mortgages, Santander UK.
“Homebuyers are increasingly sacrificing space for location. Some of these sought-after features come with a big price tag, so it is important that they seek advice from experts to better understand what they can and can’t afford.”
16. Safer neighbourhood -- surprisingly low on the list, only 7% say this is a top priority when buying a new home.
15. Being close to sports facilities -- around 5% of homebuyers really value being next to gyms, leisure centres, and other sports venues. It has grown increasingly more important as this is number has risen from 2% last year.
14. Space for pets -- around 7% of people are willing to pay the average £7,532 ($11,917) extra for finding a place to accommodate their pets.
13. Being next to bars and restaurants -- around 8% of the survey respondents want to increase the quantity and quality of their leisure time by being next to eateries and drinking holes.
12. Being close to family -- this is ranked relatively low down in the list of priorities for moving house. Maybe this is because extended family may not live anywhere close to work.
10. A private outdoor area -- around 11% said they would like to have this, even if it means just a balcony or a tiny courtyard.
9. A south facing garden -- while some people are just grateful for some outdoor space, 12% say having a garden that gets all the sun is the most important factor to them.
8. Investment potential -- interestingly, a bulk of Britons looking to move are thinking about how much money they could make from their property in the long term. Around 12% of people value investment potential as their number on priority but ranks slightly ahead of the previous slide because of the average extra a Briton would have to pay to get a better investment -- £10,379 ($16,432).
6. Having a garage or parking -- with some people making thousands of selling parking spaces separately to desperate car owners, around 15% of survey respondents cite parking as their top priority.
5. Nearby access to green space -- if people can't get a garden or their own outdoor area, 17% say living near a park or some greenery is number one on their list.
4. Good school catchment -- 19% of people say living next to a rated school is the biggest priority for them and are willing to pay the average £6,275 ($9,934) for the luxury.
3. More space -- 27% say they are moving because they need and want more space, although it is still only third in the ranking.
2. Being next to public transport -- 28% say being next to a train, tube, or bus station is a key factor.
1. Being close to work -- A third of Brits cite this as essential when buying a property and find it more important than being close to family.
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