When it comes to buying a home British people still want a traditional garden and a touch of modernity means broad band speed it also important, new research shows.
But trends like wanting to live near a particular supermarket as it might push prices up, known as the Waitrose effect, has little appeal, according to a new analysis from Virgin Money.
Buyers today want green spaces, security and good neighbours rather than a coffee shop down the road. Household safety is a top consideration, cited by 83% of buyers, while 68% want good neighbours and 62% want green spaces.
For this piece of research wanting to be near a good school was not rated highly with just 36% buying in a particular location due to the education provision. The research also found that 53% would like a discount supermarket to open nearby compared with 47% wanting a premium store.
Likewise home owners spurned the Starbucks Effect, with just 10% agreeing proximity to a well-known coffee chain was a reason to buy a property. The reported importance of independent stores also seems to be exaggerated, with just 22% saying this was a motivator in where they bought.
When it comes to features in a home some 92% want a garden, 90% off street parking, 79% a combined kitchen and dining area, 62% a high speed internet connection and 41% a garden shed.
‘We set out to understand what the home owners of today really value when buying a home. What we found is that people look beyond the fads we hear so much about, and are actually motivated by contented, convenient and comfortable living and the green spaces around them and a strong neighbourhood,’ said Peter Rogerson, director of mortgages at Virgin Money.
He explained that the research demonstrates that when looking at specific features and how important they are when buying a home, green space at home as well as in the neighbourhood is critical with a garden being the most popular feature for both existing owners and those looking to buy a new property.
