What do people want from their new home in 2020?
We did some research to see how buying and renting habits have evolved in the second half of 2020 - due to the C-word or not.
I think we can all agree that 2020 has been a weird year. As people get into the groove of buying and selling houses again we decided to have a look what people want from their new place of residence - has it even changed?
Short answer = yes.
People are looking for a variety of different options when they decide to make the move. A national statistic has even stated that 38% of people in the UK altered their home hunting priorities coming into the second half of 2020. But what specifically has changed?
- 63% want a bigger garden/access to a big space.
- 43% of people want a bigger home.
- 36% want access to parking/a garage.
- 36% want better home working spaces.
- 31% want to live close to green spaces and parks.
- 30% of people have changed to want to live rural rather than a town or city.
Searches by buyers for homes with gardens are up 42% in May compared to May 2019, and for renters they’re up a massive 84%.
But what does this mean for your home?
In truth, not a lot. People vary so drastically in what they want from a home its impossible to say if they’ll be overjoyed by your property or not. Statistically if your property has one or more of the features listed above, during today's market, it is more desirable. Yet we must argue has this not always been the case? Big home, Nice Garden?
We believe the clues are for landlords – where to put their investments. Whilst we turn into a more digital, secluded world – is it not worth the additional investment to capture one or more of these features?
If you’re interested in seeing what the value of your home is – taking into account these changes to buyer and renting behaviours click the button below.
Or feel free to contact us and we would be more than happy to discuss any property with you.
