What are the main things that buyers are looking for when purchasing a new home? Is it some outside space? Or perhaps that elusive guest bedroom? Well, according to a new survey by Savills estate agents, the three most desirable factors any prospective buyer is looking for are off street parking, minimum maintenance and location.
The research shows that these three things are top of many buyers’ lists, showing that convenience is a major factor when owning a home. But it is perhaps the order in which these factors now sit that is most interesting.
Traditionally, the saying has gone that it is location, location, location that are the three most important issues. So, you would expect it to come out on top here. However, it seems that it is now low maintenance and off street parking that are the more important priorities.
These features refer specifically to new build properties. So, this information should be of special interest to developers. Other things that buyers were looking out for were new home warranties, size and design of living areas, and the quality of the neighbourhood. Energy efficiency is also a key consideration, as is the proximity of key services such as schools, hospitals and transport hubs. However, these outside services were nowhere near as important as the features of the home itself.
Energy efficiency seems to be moving up the rankings, becoming more of a factor in people’s decisions. This means developers are having to pay more attention to this during construction, which can only be a good thing.
Of course, the information in the study can be broken down further. Help to buy schemes were a very important factor for first time buyers but not an issuer for upscalers. For them, it was more off road parking that was the driving force. And obviously, when making such big decisions about where to live, no one single factor can dominate. It’s all about weighing up the options and assessing all the necessary variables.
Nevertheless, for investors and home builders, this is very useful information that informs the way decisions can be made. To find out more about what buyers are looking for in new homes, get in touch with our expert property team here at Agile. We’re always more than happy to talk though what we’ve learned over the years.
To find out more about the local and national property market, or if you would like to chat about anything to do with property investment, give us a ring on Norwich 01603 567804 or send us a message.
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