As the festive season twinkles in, the dreams of many home buyers across the UK are shaped by more than just visions of sugar plums. According to the latest Dataloft data, this year’s Christmas wish list is topped by properties ready to move into without the hassle of refurbishments. Let’s delve into what home buyers are really looking for this holiday season.
Hassle-Free Homes: A Festive Favourite
This Christmas, a striking 61% of respondents in a recent Dataloft Poll of Subscribers (conducted in November 2023) are saying a firm “Ho-Ho-No!” to properties requiring refurbishments or extensive fixer-upper work. The desire for hassle-free homes is clear, as buyers aim to settle in comfortably in the festive countdown. The allure of walking into a home that requires no immediate work allows new homeowners to focus on what truly matters during this time of the year: family, relaxation, and holiday cheer.
Refurbished Homes: The Cost of Comfort
While the majority seek move-in-ready properties, there’s an intriguing market trend for homes in need of a little TLC. Over a quarter of respondents expressed interest in properties requiring refurbishments, primarily due to their more attractive pricing. On average, these homes are a merry 8% cheaper than the typical property on the market. This price reduction can be a significant draw for buyers looking to invest in a property with potential, and who are willing to embark on the journey of making it their own.
However, those in search of newly-refurbished homes should be prepared to pay a premium. The data indicates a frosty 19% price increase, equating to nearly £70,000 more than the average property. This reflects the current market’s high valuation of convenience and modernisation. For many, the extra cost is justified by the immediate comfort and modern features these homes offer.
Location, Location, Festive Decoration
As we dive deeper into buyer preferences, it’s not just the condition of the property that’s a priority; location remains a key factor. Buyers are looking for properties that are not only ready to move into but also situated in desirable areas. Proximity to good schools, transport links, and local amenities are still high on the Christmas list. Additionally, neighbourhoods that embrace the festive spirit with decorations and community events can also sway buyer decisions, adding to the charm and appeal of the area.
Energy Efficiency: A Gift That Keeps on Giving
With the heightened awareness of energy costs and environmental impact, energy-efficient homes are increasingly desirable. Buyers are looking for properties with good insulation, efficient heating systems, and maybe even sustainable technologies like solar panels. These features not only reduce the carbon footprint but also promise significant savings on energy bills – a particularly attractive prospect in the current economic climate.
The Ideal Christmas Home
In summary, UK home buyers this Christmas are looking for:
- Move-In-Ready Homes: Minimal work required, allowing a focus on festive celebrations.
- Affordability vs Premium: A choice between more affordable fixer-uppers and pricier, newly-refurbished homes.
- Desirable Locations: Good schools, transport links, and a festive community spirit.
- Energy Efficiency: Homes that are both environmentally friendly and cost-effective.
A Merry Move this Christmas
Whether you’re dreaming of a cosy, ready-to-move-in home or seeking a property with potential to refurbish, our team at Northwood is here to guide you through your property journey. Contact us today to start your journey towards a happy new home!
