What Are The Top Priorities For Home-buyers?
The priorities of home-buyers is changing. Once, the location of a property was the most important thing for hopeful homeowners and, while it still remains a top priority for some, times have changed and focus has started to shift. According to new research, which is based on the views of 5,400 people who have bought new-build homes in the last four years, home-buyers are now also focusing on other aspects while on the hunt for a new property to purchase.
In late 2017, there were many articles published across the web to provide detail on predicted trends for home-buyers. Some claimed that 2018 would be the year for ‘smart houses’, fitted with automated systems that could be controlled remotely, whilst others predicted that the price of the property would be the definitive factor. Access to nearby amenities, such as schools, NHS services, and local transportation links, is also regarded as an important factor.
However the main driver in house purchase decisions is features of the home itself, with home-buyers’ focus shifting to the seven core priorities listed below:
- Minimum need for maintenance
- Having the option of off-road parking
- New home warranty
- Size and design of living space
- Quality of the neighbourhood
- Energy efficiency
Naturally, priorities differed depending on buyer type. To illustrate, 58% of first-time buyers considered the Help to Buy scheme as very important and placed greater emphasis on proximity to transportation and shops. Upsizers, however, regarded off-street parking as a very important factor, followed by the size and design of living space, and were most likely to favour properties nearby to primary schools and local NHS services.
Relocators also valued off-street parking, as well as the location of the property and quality of its surrounding neighbourhood, which is to be expected, since they are relocating to a new location entirely and may understandably be wary of moving somewhere they are unfamiliar with. Contrastingly, downsizers placed low maintenance, a new home warranty, and energy efficiency as the most important factors.
All in all, it seems as though the behaviour of home-buyers is changing, as different aspects are now making much more of an impact. In the past, those looking for properties focused on nothing but location, location, location. However, with off-road parking and neighbourhood quality proving to be important for hopeful homeowners, it may be time to rethink your selling strategy.