The COVID-19 pandemic has seen homeowners reevaluate what is most important to them when searching for a new home. The virus has radically changed what homeowners perceive adds value to a home, as working patterns have changed, people commute less and are more likely to be working from home.
The country is seeing a shift away from so-called vanity features, such as a kitchen island or the house’s appearance from the road. Instead of the front of house curb appeal, people who are moving house are looking primarily for more space inside and outside the property.
Change In Facilities Homeowners Want
There are encouraging signs that the housing market is bouncing back. However, those who are buying a house have changed their priorities.
Homeowners are searching for properties that have a private garden, balcony, or roof terrace. With tough restrictions on socialising indoors, outdoor space couldn’t be more attractive to a prospective buyer. Homebuyers are also looking to buy in neighbourhoods with close proximity to parks, green spaces, and cycle routes.
Second, only to outdoor space, is the desire for a home office. Professionals are remote working, and a space where they can get away from the kids to work or have a Zoom meeting is highly attractive.
Properties with communal spaces are becoming less desirable, along with those located in the centre of built-up urban areas. There is, however, no change in demand for properties close to transportation hubs, such as bus stops and railway stations.
Financial Support For Homeowners
Homeowners are traveling less and spending more time at home. So it makes sense to invest in a house, renovate, or add an extension. BLG offers development finance with the best rates to give homeowners affordable solutions to help them make changes and increase their homes’ value.
If you need financial support, get in touch with our team today.