Gardens At The Heart Of First Time Buyers

Posted on: 19 November 2012

The number-one priority for first time buyers is not transport links or proximity to trendy restaurants but having their own garden, research from Yorkshire Building Society reveals.

However, the findings reveal that the importance of some other features lessens once people settle in, suggesting compromise could pay off in the long-term for potential first time buyers.

For example, while 36% of potential first time buyers see living near good public transport as key, it is far less of a factor for those who recently bought their first home (26%) which suggests this is a compromise they made and didn’t regret.

While 23% of potential first time buyers say they would be happy to buy a smaller house in a more desirable area, just 9% of those who bought in the last year agree. The feeling that experience provides a different outlook is backed up by the numbers who want a property to be low maintenance.

The appeal of that attribute increases by 8% to 36% among recent first-time buyers who know what looking after your own home really involves. Recent first time buyers are also far more likely than potential first-time buyers to want a home that is near their family (36% compared to 26%).

Regional differences also apply and potential first-time buyers in London (63%) are far more likely to value access to good public transport than those in the East Midlands (19%). First time buyers in the North East are most likely to value a low maintenance property (38%) while those in the South East (37%), Yorkshire (35%) and the East of England (35%) are most committed to living near their families. Londoners (29%) and those in the North West (28%) are most likely to want to buy a smaller house in a more desirable area compared to those in the North East (15%).

Chris Smith, group direct mortgage manager at Yorkshire Building Society, said: “Many potential first time buyers have a very clear picture of what they want from a first home and may be holding back until the perfect property comes on the market.

“However, when you compare potential first-time buyers’ ‘must-haves’ to those seen as important by people who recently bought their first home, you can identify some compromises which could benefit them long-term.

“A garden’s appeal remains fixed but living close to public transport becomes less important and views on picking location over property size also change within just a year.

David Sansome, Managing Director at Sansome & George said: “The priorities for buyers, whether first time or otherwise, are always individual and a good estate agent will identify these and help match the right property with the right people.

Outside space has always been important for buyers as this survey shows.”

Share:


Recent Articles

12 January 2024

High Street Estate Offices: Why They Still Matter

As the digital world continues to evolve, it seems that everything, even house hunting, has shifted online. However, despite the rise of online property portals, High Street estate agencies continue to play a vital role in the property market. They offer a variety of advantages that often go...

9 December 2023

Selling Homes Before They Hit The Market

Sansome & George has agreed sales on two properties before they officially hit the market. This success underscores the strength of Sansome & George's buyer database, which boasts over 700 registered buyers. If you're thinking of selling, seize the opportunity now. Read on to discover...

30 November 2023

Sansome & George Sign New Agreement To Strengthen Land & Development Team.

Sansome & George are thrilled to announce a partnership with Matthew Hollywood BSc Hon at Land & New Homes Organization to infuse fresh perspectives and innovative approaches into the management of their clients' land, development properties, and New Homes sites. Land & New Homes...

Book a valuation

Book a Valuation

Find out how much your property is worth