Wednesday, April 11, 2007
Category:
Home Improvements
A recent study from Nationwide Building Society has revealed that most UK home buyers prefer properties with environmentally friendly features. When choosing between two properties of a similar size and value, 82% of respondents said that a home with solar panels would have more influence on their decision to purchase than a home with an attic room.
The research also asked would be homeowners what is most important when settling on where to live. Pleasant neighborhoods was most important according to 97 per cent of respondents and featured more highly than a good school catchment. Ample parking was also important to 89 per cent of those surveyed.
Inside the home, 54 per cent of respondents felt the kitchen to be most influential in their decision making process. The living room followed closely with 30 per cent of respondents ranking this as most influential and the most unlikely influence on home purchasing was the bathroom with 2 per cent of the votes.
Things that put purchasers off buying properties included properties that seemed at risk of flooding, poor building work or DIY and whether property was close to a busy road or railway line. Other factors that could put homeowners off buying properties included untidy homes and north facing gardens.
Nationwide chief economist, Fionnuala Earley, said: “It is great to see that, given the choice, most of us would opt for a ‘green’ home, although there’s currently no evidence to suggest that environmentally friendly properties command a higher price. Having said that, with the recent publication of the government’s climate change bill and the pressure on households to become more energy efficient, it is inevitable that environmental home improvements will have some impact on house prices over the long-term”.
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Homeowners looking to move, but find properties on the market off putting could consider improving what they’ve already got with a secured loan. One of many options to make home improvements, secured loans can be repaid over a term to suit the borrower, from 5 to 25 years. A secured loan may be used to extend, creating the vital space needed for a growing family. Extensions are not the only way to add space to properties, homeowners could consider using a secured loan to convert garages, lofts or to add a conservatory. Giving homes a complete make over could also make them feel fresh, with a brand new fitted kitchen and bathroom, new décor and even redesigning gardens. A secured loan could provide the finances needed to get current properties just how homeowners want them.
