Size does matter
The size of the property is the most significant factor for homebuyers, with 90% saying it was ‘important’ or ‘very important’, research from Market Financial Solutions has revealed.
Other important factors are outdoor space (89%), the property’s finish (88%), its distance to the nearest town (87%) and the availability of a garage or off-street parking (86%).
Paresh Raja, chief executive of MFS, said: “The research delivers many interesting findings. The old adage that property investment is all about ‘location, location, location’ still holds true, but this extends beyond local amenities or schools. Homebuyers are prioritising size and infrastructure; and crucially, this does not just include transport links but also digital connectivity.
“Moreover, it’s surprising that the potential to extend a property is so low down on the list of priorities for house hunters. Extensions and conversions are effective ways to bolster the value of a property – and with square footage the most important factor for UK homebuyers, it’s vital they remember that they can always increase the size of a house or flat through outward or upward extensions.”
The culture of the local community (67%), the potential to extend the property (71%) and the age of the property (74%) are the least important factors.