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.”