We’ve all spent a lot more time in our homes than usual over the past year, so it’s no surprise we’ve had time to realise the things that might be missing. Coupled with the extended stamp duty holiday, the property market saw a surge in movers in 2020/21, and it looks like their priorities have changed.
Here are some of the most popular features buyers are desperately looking for in their new homes. If you’re looking for an investment house, take note!
Private outdoor space
With incredible UK spring and summer weather in 2020, we all wanted to spend more time outdoors. Whether it was our one hour allotted daily exercise time or meeting with friends later in the year, the need for comfortable, private outdoor space skyrocketed. Everyone wanted in on those summer BBQs!
According to a study by the AA, garden space can increase a home's value by up to 5%. Unsurprisingly, this meant a lot of people made the investment early on as they knew demand would increase. And increase it did - YouGov published statistics that 30% of homebuyers say having a garden is now more important.
Home office
Hand in hand with the garden is a proper work space. We all saw some of the faux pas that took place with children and pets causing havoc on video calls. Working at the kitchen table soon lost its appeal.
With many businesses deciding to shut their offices on a permanent basis, workers are now looking for the room to create a proper work space where they can be productive and, importantly, minimise disturbances.
Garage potential
The overwhelming trend of buyer desire seems to be the need to be self-sufficient out of their own home. Garages were suddenly turned into home gyms, bars, cinemas, art studios, play areas - you name it, people did it. While we couldn’t go out to enjoy our hobbies, homeowners brought their hobbies home, with Google searches for garage conversions doubling by September 2020.
Access to nature
The Office for National Statistics have pulled together a number of interesting figures around people's changing relationship with nature in the past year. Particularly for those without a garden or outdoor space, access to nature was a lifesaver during the pandemic.
With the increase in remote working, we saw a large number of people leave their city centre locations behind in favour of greener pastures (literally).
A sustainable future
As a direct consequence of the pandemic, people’s livelihoods were on the line. This had a direct impact on income - suddenly families were a lot more conscious of the amount they were spending on household bills, especially when it came to energy. Homeowners are now much more concerned about how their household activities are impacting the world around them.
Subsequently, they started making more effort to create a sustainable home. Better insulation, renewable energy sources such as solar panels, garden space to grow their own food - these are just some of the features home buyers are looking for as we move into a more eco conscious society.
With this in mind, many were left scratching their heads after the government decided to scrap the Green Homes Grant. The scheme was originally designed to provide funding to those wanting to make their home more sustainable in the future.
Helping you buy a home post-COVID
Our team of experienced mortgage advisers in Nottingham are happy to get you going on your house journey - wherever it might take you next. With 1000s of mortgage deals from over 90 lenders available, they’ll listen to your individual needs and find the solution for you.
To make an initial, no-obligation appointment please call us on 0115 90177146 or send us an e-mail.