It’s becoming clear that, as far as the average would-be home buyer in the UK is concerned, one type of property takes precedence over all others. We’re not talking about the size, shape, or specification of the property either, but rather the all-important matter of whether it’s new. While it may not necessarily be within the financial means of all home buyers, it seems that new-build properties represent the properties of choice for the vast majority.
According to the results of a new survey carried out by the Skipton Building Society, two in every three home buyers prefer the idea of moving into a brand-new property. Along with this, 38% of respondents said that they would love to have their new home built from scratch to their own specifications, if money wasn’t an issue.
When quizzed further on their reasons, more than half of those who favour new-build properties cited their primary explanation as being able to decorate and personalise the place to their own tastes prior to moving in. Interestingly, around 45% stated that they would not even consider a property that was more than 46 years old, while over 20% said that they would be far less likely to buy a property if they knew that a person had died in it at any time.
Speaking on behalf of Skipton Building Society, communications manager Rebecca Willey talked of the reasons why new homes seem to be appealing to more would-be buyers than ever before.
“It seems it’s not just the unexpected costs associated with buying an older home that is scaring the nation; a fear of ghosts, mysterious property pasts, and even dead pets buried in the garden are enough to put people off buying an older house,” she said.
“While it may spook some, purchasing an older property full of historical charm is a real treat for others.”
“However, it’s not hard to see why so many people want a new-build home, as they provide an opportunity to create the home of your dreams without the hard work and baggage from previous owners.”
For those on the business end of the spectrum, such demand paints a picture of a golden era for those working in property development. Demand for high-quality new-build properties of an affordable nature is accelerating at a previously unseen pace, all across the United Kingdom. For many developers, simple financial restrictions or challenges in sourcing capital at the opportune moment can stand in the way of what could be an incredible opportunity.
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