Knowing what British homebuyers really want can be crucial to both property investors and landlords. If you’re refurbishing, flipping or attracting tenants, it might be worth taking some time to truly understand what your audience is looking for. For example, you could pinpoint your property’s unique selling points, concentrate your renovation or advertising efforts and identify promising property investments. Otherwise, you might find yourself wasting valuable time and money.
To give you an insight into what we believe British homebuyers really want, we’ve used the results from Flooring Republic’s comprehensive survey, which interviewed 1,000 UK residents.
The research focused on two main areas:
Community comes first
Collectively, 60% of all respondents said the neighbourhood was the most important factor when purchasing a home, with 73% of 45-54 year olds agreeing that the local community was a major factor in their decision-making process.
The price tag can make or break it, especially for Generation Y
Across the board, 51.5% of all respondents listed a property’s price tag as significantly important. This factor was more popular amongst younger generations, receiving 63% of votes from 18-34 year olds.
Looks do matter
Aesthetics can make or break the deal, too. 37.9% of respondents said the size of the rooms were most important, 15.5% said exterior appearance was key and 15.3% said interior style was a deciding factor.
Understanding what drives consumer behaviour, pinpointing specific property characteristics and knowing what to attend to can pave the way to a successful sale.
Mark Haskell, Ecommerce Manager of Flooring Republic said, “It’s great to see just how many Brits value a welcoming neighbourhood, and it’s really interesting that most homeowners are concerned with more than the price of a property. Spacious rooms and beautiful gardens will always hold plenty of appeal for buyers – although they generally come with larger price tags.”
If you would like some assistance to find your perfect property/sell or let your property please contact Right Estate Agents on 0845 026 8527 or visit our website.