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Gardens 'most important asset' for first-time buyers

Summary

First-time home buyers prioritise the presence of a garden over how close their home is to transport links or living in a desirable area.

Our Solution

First-time home buyers prioritise the presence of a garden over how close their home is to transport links or living in a desirable area. That's according to research from the Yorkshire Building Society, which suggests that while all of these aspects are important, a property's garden spaces are the most important. More than half of potential first time buyers (54 per cent) rated the garden as a key element when deciding whether they should move into a property or not, while just 36 per cent cited being near good transport links as most important. Just 23 per cent said that they would be happy to live in a smaller property if it meant they lived in a more desirable area, found the study, cited by news.assertz.co.uk. The presence of family nearby was rated a key factor in buying a property for 26 per cent of prospective first-time buyers and 36 per cent of recent first-time buyers, Yorkshire Building Society also found. Chris Smith, Yorkshire Building Society's group direct mortgage manager, commented on mortgageintroducer.com: "Many potential first time buyers have a very clear picture of what they want from a first home and may be holding back until the perfect property comes on the market. "However, when you compare potential first-time buyers' 'must-haves' to those seen as important by people who recently bought their first home, you can identify some compromises which could benefit them long term. A garden's appeal remains fixed, but living close to public transport becomes less important..."

Author:

Chris Taylor

16th November 2012