Home & Property
Homeowners in The Three Counties spend £13,000 to create the perfect home
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
- Storage
- En-suite bathroom
- Large garden
- Garage
- 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.
In a pioneering initiative aimed at making the dream of owning a home more attainable, the new “Rate Reducer” mortgage scheme has been launched. This innovative program, developed through a collaboration between Halifax, Virgin Money, and Barratt Developments, is set to revolutionize how first-time buyers in Bedfordshire approach home buying. This unique opportunity could see eligible homeowners enjoy mortgage rates as low as 1.89%.
How Does Rate Reducer Work?
The mechanics behind Rate Reducer are ingeniously simple and highly beneficial. The scheme uses incentives provided by housebuilders to directly reduce the interest on mortgage payments over a fixed term. For example, if a builder offers a 5% discount on the purchase price of a home, Rate Reducer uses this amount to decrease the mortgage interest. Homebuyers have the flexibility to apply this discount over the first two or five years, depending on the lender’s terms.
Immediate Benefits and Long-Term Gains
The immediate advantage of Rate Reducer is the significant reduction in monthly mortgage payments, making it easier for new homeowners to manage their finances as they settle into their new homes. Eliot Darcy, the founder of Own New, expressed his confidence in the scheme, stating, “Our ethos is to make home ownership and mortgage lending in this country open to more people, and we are confident that the launch of the Own New Rate Reducer will achieve that.”
A Smoother Financial Journey
Craig Calder from Virgin Money sheds light on the emotional and financial comfort that Rate Reducer brings to the table. “Buying a home is a major life event, and this first-of-its-kind mortgage product will help customers feel happier about their big purchase,” he explained. This scheme allows new homeowners to focus on personalizing their new space without the stress of high initial mortgage payments.
Supporting Dreams and Providing Choices
Halifax’s Amanda Bryden emphasizes the choice and support offered by Rate Reducer. “This product gives customers more choice in the way they can benefit from builder incentives and is especially helpful to those who want to see a lower initial mortgage payment as they get set up in their new home,” she noted.
Step Forward with Confidence
Rate Reducer not only makes the initial years of homeownership more manageable but also ensures that buyers are making a sound investment. The program requires buyers to consult with regulated mortgage brokers who have been specifically trained to guide them through this new scheme, ensuring that each homeowner makes the best financial decision for their long-term goals.
This partnership between leading lenders and housebuilders is a robust step toward fulfilling the homeownership dreams of many. With thoughtful planning and the right financial advice, stepping onto the property ladder in Bedfordshire has never been easier.
Luxury housebuilder Mulberry Homes is sharing its top tips on defusing stress at home this National Stress Awareness Day, taking place on Wednesday 2nd November, to help its residents beat the mania of modern life.
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Clear out unwanted clutter
There’s never a perfect opportunity to declutter and sort through all your belongings, but it can be a very cathartic experience. Removing unwanted items from your home can help you focus on the things that really mean a lot to you.
A clear and organised space can help you feel more relaxed, and it’ll be much easier to destress without being surrounded by clutter.
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Maintain a healthy sleep schedule
During particularly stressful times, it can be easy to slip into bad habits like not getting enough sleep, which can make the stress worse.
A full night’s sleep will help you to recharge quickly, and provide you with enough energy to get through the busy days.
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Eat healthy
It’s easy to take comfort in junk food, especially with the convenience of takeaways. But eating unhealthily will put your body at a disadvantage when it comes to coping with and recovering from stress.
A healthy diet, rich in fruits, vegetables and wholegrains, is a great way to improve wellbeing.
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Make use of your garden
Being in the outdoors is proven to be beneficial for your mental wellbeing. Surrounding yourself with greenery and breathing in fresh air is an excellent thing to make sure you do every now and again, especially if you’ve been indoors all day.
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Stay active
Many of us nowadays lead very inactive lifestyles, both at work and at home, looking at screens. However, short bursts of physical exercise are proven to boost your mood.
Releasing those endorphins into your system is an excellent way to unwind and to prepare yourself best for dealing with the upcoming stress of the day. Try going for a run in the morning, or a walk after work.
About Mulberry Homes
This year, Mulberry Homes has been running a monthly community fund, called The Mulberry Community Chest.
As part of the programme, charities and public organisations local to its developments are invited to apply to receive a one-off donation of £1 to £1000, and each month, a judging panel will select a beneficiary to secure the requested funding. For more information or to submit an application, visit https://mulberryhomes.co.uk/news/distinctly-local/.
Established in 2011 and based in Warwickshire, Mulberry Homes is a medium housebuilder that provides quality properties across the wider midlands. It specialises in individual and small developments with their own looks and personalities and builds traditional homes with modern layouts.
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‘All about the community’, The Almere prides themselves on making living easy for their residents. With residents set to move this month, the exciting new community boasts co-working, communal and event spaces within the building.
The ground floor ‘Gathering Place’ is bookable to the local community and to residents, whilst upstairs on the 11th floor sits an amenity space for residents, where part will be for co-working, roof terraces to hang out, barbeques and yoga classes. Additionally, there will also be a fitted kitchen and dining area which can be closed off for a private dining experience.
The Almere Neighbourhood Hero initiative
With community at its heart, The Almere aims to build relationships and work collaboratively with local businesses to guide residents to the best spots and products in town. The Almere’s new Neighbourhood Hero initiative has handpicked local, and predominantly independent businesses to connect residents with the true value of living in Milton Keynes, highlighting all that there is to offer.
With the recent COVID-19 pandemic having had such an impact on small, independent businesses it’s key to get people back out there and supporting locally. The Neighbourhood Hero initiative is a fantastic example of this, helping businesses to thrive and regain their position within the economy. Current Heroes include Bogota Coffee Co; DeRoka; Fuuudgelife; Suds; Sweat Studios; Doorstep Cocktails; Mollys Pantry; Pup Club; Headonist Hair and Beauty; and Moxy Hotel.
Benefits of the Almere led scheme include:
- Feature on The Almere website, with regular spotlights and tags on social media channels
- Exposure to over 600+ residents, and the ability to send offers and deals to them, without incurring any marketing costs
- Welcomed as a core part of the community, allowing the businesses to use the communal spaces to hold pop-up events for residents and the local community
- Include collateral in the ‘move in packs’ for new residents, for free
- Invited to all community events at The Almere, and work together on collaborative event activations
Community Manager, Holly Birmingham explains, “Community is so important to us at The Almere – it is all about meaningful connections both within our own four walls and the wider neighbourhood. At The Almere, we aren’t just a building, we are a new community in the heart of Milton Keynes. We want to support the brilliant local businesses around us, create lasting relationships and of course, show our residents the best our town has to offer.”
The new scheme offers an exciting experience for local businesses to work on an exclusive basis with the upcoming, Milton Keynes hotspot, offer discounts to residents and in turn help show the rest of the UK what Milton Keynes has to offer!
About The Almere
A pioneering new rental community for Milton Keynes, The Almere, is a collection of 294 rental apartments built across two buildings with neighbourhood and outstanding service experience at its core.
