Throughout the UK, it seems like the testy housing market is finally making a modest recovery! The number of interested buyers is improving, even as challenges persist. This, however, makes it very important for homeowners to make a good choice when buying a new home. A poor real estate investment can have negative financial repercussions for years to come.
With this in mind, here’s what people are really looking for when buying a new home in the current housing market.
1. Location is a key factor
Location has always been a critical factor for homebuyers to consider across the UK, especially in bustling cityscapes such as Middlesbrough, Newcastle and, of course, the City of London. People generally look for properties that suit their lifestyle, including their family needs – whether schools are nearby, for example – and the proximity to their place of work.
Local amenities, transport links and even community resources are also important. Unless you prefer rural living, very few homebuyers want to live in a new home without convenient public transport services or nearby major road networks.
Of course, the desirability of a location can be further shaped by local crime rates and any future development projects that could alter the landscape around your new home – for better or for worse. Buyers often conduct extensive research on the neighbourhood, looking at data such as school performance, local green spaces, healthcare facilities and even the availability of shopping centres.
The rise of remote working has also shifted priorities for some buyers. Where once the daily commute dominated decisions, the ability to work from home means buyers now seek locations with a balance of urban convenience and peaceful surroundings.
2. Affordability
Aside from location, the first consideration on homebuyers’ minds when looking for a new home is affordability. This doesn’t only refer to the purchase price of the home, but the ongoing costs of ownership – including bills and house insurance.
Buyers generally look for a new home that caters to a clear budget. A well thought-out budget will take into account current mortgage availability, their interest rates, and the buyers’ personal financial situation, which could change over time! That’s not to exclude stamp duty, solicitor fees and moving expenses.
Affordability also touches on the energy efficiency of a property. With rising energy costs across the UK, many buyers are specifically seeking homes with good insulation, modern heating systems, and energy-efficient appliances. This not only lowers monthly expenses but also aligns with growing concerns about sustainability and environmental impact.
As a result, many people are also looking for new homes that offer good value for money, balancing their wishes and aspirations with what they can realistically afford. In addition, government schemes such as Help to Buy or shared ownership are still appealing to many first-time buyers trying to get onto the property ladder.
3. Size and layout
Every home is different. They’re built to different parameters – namely, in their size and layout. Homebuyers aren’t looking for the biggest or most impressive new home out there, only one with enough space to meet their needs! As such, they carefully assess the number of bedrooms and bathrooms, how big the kitchen and living areas are and whether they’re open plan, and how much storage there is.
Open-plan living spaces have grown in popularity over the years, particularly among younger buyers who prefer spaces that allow for seamless interaction and multi-functionality. However, some still seek more traditional layouts that separate living and dining areas for a quieter, cosier atmosphere.
Outdoor space is another key factor. Even smaller properties are more appealing when they have a garden or patio, offering a private outdoor area for recreation and relaxation. In densely populated cities, the availability of outdoor space is a luxury, and many buyers are willing to pay a premium for homes with gardens, balconies, or nearby parks.
Some are also really looking for potential in their new home – specifically, the potential to extend and renovate the property in future. After all, a growing family equates to a growing demand for space, without the fuss and hassle of moving house. Affording multiple moves is something that very few people are prepared to do, for good reason.
4. Condition of the property
Ultimately, the condition of a new home is crucial. Just because it is a new build or fresh onto the housing market, doesn’t mean that it is structurally infallible!
Many buyers prefer homes that require little to no immediate work, especially for structural features such as the roof. If work is required, this can be an additional, unwanted expense. Property surveys and inspections are carried out to assure prospective homebuyers of a property’s condition, though they may not always return favourable results.
Yet, we must admit, we don’t speak for what every homeowner is looking for here! Some buyers do deliberately seek out fixer-uppers for their new home, to make it completely their own. The roof is one of the most integral aspects of a home – without it, you, your belongings, your loved ones and everything inside would have no protection. Professional roofers in Middlesbrough and across the UK often attend homes that are up for sale to either replace them or conduct major repairs. A new roof can add a staggering amount of value to your property.
Beyond the structural condition, buyers are also paying close attention to cosmetic elements. Freshly painted walls, modern fixtures, and updated kitchens or bathrooms can significantly sway a buyer’s decision. While structural issues can be costly to fix, minor aesthetic improvements can be relatively inexpensive and yet make a huge difference in the home’s appeal
5. Future Investment Potential
Many buyers, particularly those with a long-term view, are considering a home’s potential to increase in value over time. They look for homes in up-and-coming neighbourhoods where property prices are likely to rise as the area develops.
Factors that contribute to future investment potential include planned infrastructure improvements, such as new transport links or shopping centres, as well as the reputation of local schools and amenities. Even the overall economy of the UK plays a role, with property prices often reflecting broader economic conditions.
First-time buyers and seasoned investors alike seek homes that offer room for improvements, such as extensions or loft conversions. These are seen as relatively low-cost ways to add value, especially in markets where space is at a premium.
So, there you have it. These are just a few things people look for when choosing their new home.
