Top 20 must-have features for your first home
Renters have revealed their must-have features for their first home – with a garden, double glazing and high-speed broadband topping the list, research shows.
However, while 81 per cent of those surveyed aspire to own their home, 68 per cent fear they’ll never be able to afford to.
The research, commissioned as part of Shared Ownership Week which aims to help people with smaller budgets get on the property ladder, revealed the average tenant has been renting for 10 years and has more than £13,000 saved towards a deposit.
A spokesperson for Shared Ownership Week said:
“The situation this year has changed our outlook on life and with people spending more time at home. As a result, it seems things like high-speed broadband and outdoor space are now among the most important features.”
The survey of tenants who live in London and the south-east also found that a detached home just pipped an apartment to the most desirable type of property, with two bedrooms the optimal figure for most.
Location is the most important factor when looking at a first home, followed by affordability and size.
But 62 per cent would compromise on the location if it meant being able to own a home, while 60 per cent would settle for a smaller property than they’d really like.
It also emerged just 28 per cent of the respondents knew if they were eligible for a shared ownership property, which typically involves buying a 25 per cent share of a new build.
And in a separate nationwide study of 1,000 Brits, carried out via OnePoll, almost three quarters (73 per cent) said they had heard of shared ownership.
But only six in 10 (61 per cent) think everyone should aspire to own their own home, with 47 per cent believing renters should be encouraged to buy a property under shared ownership to get onto the property ladder
Shared Ownership Week, which runs from September 17-23, is a festival of virtual events, expert advice and real-life stories to help people understand the homeownership scheme.
Find more information at https://sharedownershipweek.
20 Must-haves for first time buyers:
2. Double glazing
3. Allocated parking space
4. High-speed broadband
5. Separate toilet
6. En-suite bathroom
7. New boiler
8. Open-plan kitchen and living room area
10. New appliances
11. Cupboard for vacuum, ironing board etc
13. Power shower
14. Office space
16. Kitchen island
17. Utility room
19. Walk-in wardrobe
20. In-built fridge freezer