Author : Mary-Anne Bowring
Space is what we all crave according to a new survey of UK homeowners
Forget ?location, location, location?, new research published by bridging loan lender Market Financial Solutions reveals that size really does matter for British homebuyers. According to a survey of more than 1000 homeowners, the size of a property is the single most important consideration, with 90% of people polled saying it was ?important? or ?very important? to them when they bought their current home.
Homeowners were asked what mattered to them most when they were looking for a new house or flat. At the top of buyers' wishlists were size, outdoor space and quality of finish. Location came fourth, with 87% of us caring most about the distance of our home to the nearest town or city.
Other key factors were:
Despite only coming in fourth in the survey?s rankings, location is still a key factor but the quality of broadband and mobile connectivity is deemed marginally more important than easy access to local amenities or the proximity of parks or good schools.
It comes as a surprise then - with homebuyers putting size as their first priority - that the potential to extend a property came so far down the list. The price of an extension is often considerably less than the cost of moving and it can add considerable value if done to a high standard and with careful planning.
Extending a home is inevitably harder for leasehold flat owners than for freeholders but it may still be a possibility. So if size matters to you, it?s well worth talking to a chartered surveyor before you put your home on the market. Of course, permissions will be needed. These could include planning consent as well as (probably) a licence to alter and a lease alteration but it may turn out to be a viable ? and potentially less costly - alternative to moving.
Mary-Anne Bowring FIRPM FRICS FARLA FCABE Founder/Head of Asset Management
Strategic partnerships, holistic delivery/ opportunities, growth, value engineering, thought leadership
Ian Barber MD BTR Mobilisation & Leasing
Runs HQ & site lease-up teams. Drives rent pricing, mobilisation, marketing, happy residents!
Jon Curtis MRICS Head of Building Engineering
Chartered Building Surveyor. Lectures on EWS1 & building safety. Runs CapEx programmes.
Kate Robinson MIRPM MD Blocks/FM Management (London Region)
Master plan setup, ops and staffing and resident engagement. ISO45001 champion.
Lee Harle Partner Ringley Law
Plot conveyancing. Debt litigation. Group Company Secretary.
Anthony Kingdon MIRPM AssocRICS MD Blocks/FM Management (North Region)
Stakeholder engagement. Mixed tenure specialist. Budget management. Plant audit, PPM compliance.
Chris Georgalis MRICS Head of Commercial Valuation
Chartered Valuer. Rental valuations: retail, leisure. IRR modelling and valuations for secured lending. Compulsory purchase & rent reviews
Nichola Pughe MRICS Head of Residential Valuation
Chartered Valuer. Rental development & mixed use valuations, IRR modelling. Leasehold enfranchisement specialist
Libby Chen MSc Compliance Manager
Operational Plant & Equipment strategy PPM Compliance lead, Asset tagging Client major projects
Dipesh Parekh Director PlanetRent
Customer centric, vertically integrated PropTech/fin-tech solutions.
Leana Aristodemou MIRPM MARLA AssocRICS Strategic lead: ESG & Asset Business Plan delivery
Financial modelling, valuation analyst to support underwriting & fund reporting.
Natalie Birmingham Helpdesk Support Manager
Trainer & Helpdesk Manager: people, systems,contractors. ISO45001 supply chain accreditation.
Steve Norman Planning Director
Land due diligence (opportunities & constraints) Has contributed to a number of award winning schemes.