69% of homebuyers would compromise on property details for better location, research finds
90% considered the location and local area important when choosing a home, research from UK Property Development found.
69% of recent homebuyers would compromise on a property to secure a better location, research from UK Property Development found.
65% would pay more for a property in the right location, while 90% considered the location and local area important when choosing a home.
Safety and low crime were the main priorities, cited by 18%.
Good transport links and access to parks and green spaces were each selected by 14%, while 12% prioritised local shops and supermarkets.
11% valued attractive streets and the surrounding environment.
Internal specification and finish were the most common compromises, cited by 22% of buyers.
20% would give up green space, while 16% would consider buying a smaller property.
Among those willing to pay more for the right location, 36% would pay up to 5% extra and 18% would pay up to 10% more.
A further 11% would pay a premium of more than 10%.
Andy Morrison, director of UK Property Development, said: “For years, the conversation around buying a new home has understandably focused on the property itself, from the number of bedrooms and the size of the garden to the kitchen and overall specification.
“But these findings show that buyers are making a much bigger decision.
“They aren’t just buying four walls, they’re choosing where they want to live their lives.”
Morrison added: “What’s particularly interesting is the extent to which people are prepared to compromise on the property to get the location right.
“For developers, that makes the choice of location incredibly important.
“At St James View, we wanted to offer buyers the best of both worlds.”
He said: “Goffs Oak provides the village environment, community and connectivity that people are looking for, but buyers don’t have to trade down on the quality of their home to get it.
“The message for buyers is simple: location matters, but finding the right development means you shouldn’t necessarily have to compromise to get the lifestyle you want.”
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