Buyers look to live in the country
Location is king according to recent news from Halifax Estate Agents. This, along with size, age and style have a significant impact on property value. Around one in three buyers would be prepared to pay up to £10,000 more for a home in the place they most desire is and the fresh country air is a big pull for prospective homeowners.
According to the Halifax Estate Agents survey results, 26% of those surveyed said that being close to the countryside was the most important location feature for them. Good transport links came close to this with 18% of those surveyed commenting that this was important to them. Proximity to work and having good schools nearby were also of prime importance to home movers.
A high number of those surveyed also said that they would be prepared to pay a premium to secure a home in their dream location. 31% said that they would pay up to £10,000 more, whilst 12% would offer between £10,000 and £25,000.
Colin Kemp, Managing Director for Halifax Estate Agents, comments: “It is interesting that being able to escape to the country is the most highly prized geographical factor for house-hunters. According to our research it ranks higher than some of the considerations which are traditionally thought to impact significantly on property prices such as local schools and distance to work.
Although other factors such as budget, property specification and availability play an important part in the decision to purchase a property, most people begin their search for a home by looking at geographic location first. The fact that so many house-hunters would be prepared to pay more for a property in their ideal location demonstrates how important this is in the home-buying process.”
Homeowners living in the country who love where they live and who would like to extend their property, could consider financing this with a homeowner loan. One of many options, a homeowner loan could provide the funds needed to complete large scale projects such as extending ground and upper floors. Homeowner loans may also provide the funds needed to pay for refitting kitchens and bathrooms, or perhaps even adding a conservatory. Once internal work is completed, property owners could also consider improving the outside of their properties and grounds with a homeowner loan.
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