A new study has found that the average homeowner in The Three Counties is willing to spend as much as £13,000 on special features to give their home added ‘wow factor’.
When it comes to adding special features to home, residents are willing to spend big, with 86 percent agreeing that they would pay more money for added extras. A large garden (47 percent) and a great view (39 percent) are the features most likely to be splurged on, with homeowners valuing outdoor space more than any other region in the country.
Some are even willing to go to extreme lengths to ensure they get exactly what they want in their home, with one in 10 saying they would be willing to reduce all other household expenditure to be able to afford the upgrades they want. What’s more, over one in 20 admit to financially overstretching themselves in pursuit of the perfect home.
When considering moving to a new house, homeowners in The Three Counties are also happy to compromise on the overall size of a property in order to get the features they want. The study found that over three-quarters of residents would sacrifice square footage for certain features, with a large garden, an en suite, and a great view all considered more essential than space.
Top 10 Most Desirable Features in a Home
- Natural light
- En-suite bathroom
- Large garden
- Outdoor seating area
- A great view
- A quality front door
- Walk-in wardrobe
- Kitchen island
The survey, commissioned by Origin, the UK’s leading manufacturer of aluminum doors and windows, found that the most sought-after feature in homes in the East of England is ample amounts of natural light, with 60 percent of local homeowners agreeing that this is important to them. This is followed by storage (56 percent) and an en-suite bathroom (55 percent).
Interestingly, homeowners in the area are less likely to compromise on the location of their home than the size or price, suggesting that location remains king. With the cost of homes rising year on year, it is no surprise that more than a quarter of Brits (26 percent) believe they are unlikely to ever afford a home with all the features they look for, no matter what sacrifices they make. Almost the same number (24 percent) claimed it is impossible to have a home with all desired features as one can never be truly satisfied.
Commenting on the findings, Property Consultant Alex Goldstein, said: “The results prove that people are often willing to pay a premium for the features that really matter to them. Having worked in the property sector for nearly 20 years, it is no surprise to me that natural light and storage take the top spots. However, we are also seeing new and emerging trends, like en-suite bathrooms and outdoor spaces, becoming far more important.
“Due to the current coronavirus pandemic, people are spending even more time in their homes and they have had to become multi-purpose – suitable for work, rest, and play. During the lockdown, people have had time to consider what they really want and need; be it designated workspaces, more accommodation for the children or a bigger garden. Once they have decided, they go the extra mile to get it, as they know they will get good use out of it and it will make the additional time spent in their home more enjoyable. An Englishman’s home is his castle, and, in his mind, he deserves all the comforts that go with it.”
What’s more, people are optimistic about how much value features can add to a home, with a great view expected to add up to 10 percent to the value of a home and natural light and outdoor seating both considered worthy of an eight percent increase. It is, therefore, no surprise that 15 percent of British homeowners intend to boost the value of their home by adding some extra ‘wow’ factor.