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What home buyers want
Want to know what Brits are looking for when they start searching for a new home? Well, recent research has revealed that good transport links come ahead of pretty much everything else on the must-have list.
According to MyHomeMove, the old cliché of ‘location, location, location’ is what drives the majority of home buyers’ searches. However, the perfect location might be hard to pinpoint as it’s something of a contradiction. While it needs to have excellent transport links and good amenities nearby, it also needs to have plenty of green spaces.
All roads (should) lead to home
Two-fifths of respondents to the survey admitted that good commuter links was their greatest priority when looking for a neighbourhood to move to. This shouldn’t come as much of a surprise – if you’ve just bought the perfect home you’ll want to get back to it after your day at the office with as little hassle as possible.
While less important than good transport links, close proximity to green spaces was another thing movers said they were looking for, with more than a third of respondents admitting it was on their list of priorities. In fact, the great outdoors ranked more highly than being close to family! Although Brits clearly value their relatives above their friends, as fewer than one in ten of those polled said they would look for a property near where their pals live.
As well as being close to green space, being a stone’s throw from shops, restaurants and cafes was another demand for buyers. Just short of a third of the people surveyed said they would be keen to look for a home that was close to these amenities.
What’s important to you?
There’s so much to consider when buying a new home and it’s quite easy to get caught up in the search for the perfect location. The thing is, if it really is the perfect location it’s likely that prices will be very high there.
You might be tempted to borrow more than you originally planned to fund your move to the dream area, but it’s worth exploring your options first. Take a drive 10 minutes out of town and see what you can find there. Chances are prices will drop – but that’s not to say the value of homes here won’t go up in the future if the neighbourhood really is as popular as you think.
The important thing is that you don’t overstretch yourself financially. By borrowing at the very top or above your original limit, you may find that your mortgage payment leaves you with little leftover each month to spend on enjoying your new postcode. It may even leave you struggling to keep on top of your other expenses.
When you buy a new home there has to be compromise, so if you know you can’t do without good transport links, consider removing nearby greenspaces from your priorities. But trust us – you’ll get a lot more enjoyment from your home if you know you can comfortably afford the mortgage payments on it.