Author : Mary-Anne Bowring
Lockdown is bringing property problems to the fore. With more of us spending all our time at home, all those little gripes that could have been easily ignored in normal circumstances are now becoming painfully obvious. Maintenance issues, a lack of storage space, and too much noise are top of the list of homeowner's and renters' complaints, according to new research from the Homeowners Alliance published this week.
The HOA survey shows that when we are looking for a new property to rent or buy, we tend to focus on the important physical characteristics of the property (beyond location and number of rooms). Top of the list are sufficiently sized rooms (66%), a private balcony or garden (57%), and good natural light (46%). However, more than half of renters and more than 40% of homeowners wish they would pay more attention to other aspects of the home they picked to rent or buy.
The HOA reveals that:
So once the lockdown is lifted, how might the COVID-19 outbreak change our home buying and renting habits? First, there is likely to be renewed interest in homes to rent or buy outside busy urban centres and properties with gardens will be at a premium. Buyers and renters are likely to want to avoid crowded cities and town centers and live in a home with private outside space.
In addition, larger homes with flexible space and properties with home offices and a good Wi-Fi connection will be top of many wish lists as more of us continue to work from home. This will have an impact on commuting too, so properties further afield may attract higher prices than they have in the past.
These potential changes in our housing needs and buying habits could also drive architects and developers to re-think the way they design our homes - and landlords who would normally focus their portfolios on towns and cities may reconsider their investment choices too. In a very short space of time, the global pandemic has made us all reassess the way we live our lives. and the need for social distancing may not change anytime soon. Chances are that the new normal? will filter through to our housing preferences too.
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.