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Research carried out by Approved Trader has shown that property location is that most important factor for potential home buyers. Of the 2000 people asked over half (52.9%) chose location as the number one factor for buying a house.
Of the 1058 people who chose location, 32% said the most important factor when deciding where to buy was that it was within an acceptable distance from work. This offers an explanation as to why the housing market can be influenced by the job market and in particular why investment by large businesses can significantly increase the desirability of postcode.
| School|| Work|| Modern Amenities||Rural Area||Preferred Location||Other|
With the location of your home in relation to your job as the most important factor, this isn`t always the distance in miles but the travel time, so good transport links can be a great selling point for a property.
Richard Harvey of Approved Trader comments "Our home`s location is important to many of us, we all want the modern amenities and easy access to places such as work and school, although we also want a pleasant area favouring more peaceful location, many of us have to balance these contradicting factors when moving to a new home"
The second biggest factor is the price of the home they are buying, many of us have a set budget that is limited by our savings or the mortgage balance available. In many cases buying a house is the biggest we will make in our lifetime, so ensuring that we are getting excellent value for money when buying a house is hugely important.
Size is important to many home owners, some of us like to spread out but space is key particularly for those who have large families requiring extra bedrooms for your children or elderly relatives.
Overall condition can be a huge selling point for buyers but not always for the same reasons, though many home buyers do want the house to be in pristine condition as they want it ready to move into, some will be actively seeking properties in a run-down state for a `fixer upper`. Buying a property which needs work can allow you to do the work and add value to the property, if you can do the work yourself then you can make decent profits.
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