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Half of Brits willing to pay premium for a ready-to-move-into home

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Wed 04 Oct 2017

Half of Brits willing to pay premium for a ready-to-move-into home

Half of Brits willing to pay premium for a ready-to-move-into home

 

New research has found that 48% of Britons’ would pay a premium to be able to move in to a property immediately without having to do any renovation or replacement work.

Acording to a study of 2,000 UK adults by BetterBathrooms.com, homebuyers are willing to increase their property buying budget by an extra 14% on average for rooms and fitted furnishings they want to keep, rather than replace.
 
Rooms with desirable fitted furniture and appliances were also the rooms taken into highest consideration when purchasing a property, with 43% admitting a kitchen in good condition is top of their property wish lists.
 
A well-presented bathroom was also regarded as important by a third (33%), with tiles and plumbed-in appliances being too time consuming to fit and replace.
 
27% rated a large outdoor space or garden as high priority on property search checklists, providing extra living space when the Great British weather permits.
 
One in six (16%) also listed a garage as an important factor while one in ten (11%) said they would be looking for attic space, showing storage and spill-over space is a top priority when purchasing a new home.

 

Lee Glenister, Head of Marketing for BetterBathrooms.com commented: “It is clear that house hunters in 2017 are even more time poor and are willing to exceed their budget in order to speed up the process of moving to a new property, with homes that are ready to move into exchanging hands for a higher premium.
 
Rooms which are more expensive to fit out and decorate, such as kitchens and bathrooms hold the highest priority for those looking for a new home, with a high percentage opting to buy a home that doesn’t require any major building work.”
 
Those aged 35-44 (56%) were most likely to break the bank when it comes to buying a ready to move in to home, stating a lack of time to renovate and organise building work (78%) as the main reason for doing so.
 
Recent research by Halifax Insurance also discovered that planning applications for basement conversion projects have soared by 183% over the past 5 years, while applications for conservatories have fallen 3% in the same time.