This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
New research from Leeds Building Society has revealed the dream property for people living in the UK.
Dreams
According to the questionnaire, a three bedroom, two bathroom detached period property would be the perfect dwelling for 48.5% of respondents. 52.4% said that they would like to live in a home with three bedrooms, with 74.3% going as far to say that this is a minimum requirement.[1]
76.2% of people questioned in the survey said that one bathroom would not be enough, with over half (56.2%) stating two bathrooms is a priority.[1]
When choosing a property, the top feature was found to be location, with 72.9% saying this was most important. 68.5% said that the size of the property was the most significant feature and 61.7% gave the largest priority to a garden or outside space. The layout of the property was considered imperative by 56.2% and off-street parking was of paramount importance to 53.1%.[1]
Compromises
Further data from the research shows that buyers were most likely to compromise on good interior decoration. 28.7% said that they were prepared to overlook this and 23.6% said they would also overlook period features. 21.5% commented they could do without a new kitchen or bathroom and 21.2% were unconcerned about the property layout.[1]
Dream features of property revealed
However, the biggest turn off for potential purchasers was no garden, with 35.3% that they could not buy a home without one. 14% said they could not operate without a drive, 10.9% didn’t feel they could live with an old heating system and 9.4% cited they couldn’t live in a home with stairs in the living room.[1]
‘When home ownership appears to be a national obsession and there’s a mind boggling choice in types of properties to purchase, it’s perhaps surprising that our survey discovered so many people share the same view of what makes their dream home,’ observed Martin Richardson, Leeds Building Society’s general manager for business development.[1]
Fundamentals
Director of business development for e.surv Richard Sexton, feels that it should not come as a surprise that the major selling points of a property are those that cannot fundamentally be altered.
Sexton noted that, ‘it’s relatively easy to redecorate, but impossible to move a building from one location to another. The findings reflect the fact that house hunters are generally aware of the difference between these categories and take a long term view on changeable factors to ensure they get their preference on the fundamentals.’[1]
[1] http://www.propertywire.com/news/europe/uk-dream-home-survey-2015073010806.html
