What do prospective UK homeowners look for when moving? Marshalls finds out exactly what house hunters want on their quest for the perfect home.
The cost of private parking
When searching for the perfect home, what do prospective UK homeowners look for? A great location? House size? Huge garden? Private parking? After asking 1,000 UK residents what their number one priority was when house hunting, the research conducted by leading hard landscaping manufacturer Marshalls found that private outdoor space tops the list of must- haves.
While having an outdoor space for both leisure and practical purposes was a general necessity, when it came to the most important features of a new property, gardens and off- street parking came out on top.
Off-street parking is a must
As UK residents without off-street parking spend an additional 7 minutes a day looking for a parking spot close to their homes, it’s understandable that almost a quarter (24%) of respondents stated that off-street parking would be the most important feature they’d look out for when searching for their new house.
According to the study, driveways and off-street parking could mean a 29% house price increase on the UK average, resulting in an average cost increase of £66,785. The advantage of having private parking could even result in up to a 60% household value increase, depending on where you are located in the UK with Leicester being the most price-sensitive here.
Is private parking the only important piece of outdoor space?
In addition to having private parking at home, having a garden also seems to be a very important feature for many people. Whether you’ve got children, pets, or just love the idea of hosting a barbecue for your friends and family in the summer months, there are many advantages to having a garden.
However, when it comes to securing a home with a garden, individuals could face a huge cost – depending on where they are looking to buy in the UK. While over half of the respondents (54%) claimed that a private garden would always be on their must-have list, a private garden could increase a house’s value by up to 69%. The average house price in London, for example, is £482,200, but when you add a garden to that, the price increases to £813,500 on average.
In comparison, prospective house hunters in Leeds will find only a 10% increase on the average house price – meaning that green space comes in a lot more affordable in this northern part of the country.
Chris Harrop, Director of Sustainability and Marketing at Marshalls, commented:
“The results of this research show that people really value good quality outdoor space at home and that it’s a strong deciding factor when house hunting. As the study shows, an investment in your garden or drive not only benefits your lifestyle, but it also adds value to your home if you decide to move on. Creating and maintaining a garden can give you years of fun and relaxation with the family but it’s also good to know that it will encourage buyers when you come to sell.”
To all prospective UK homeowners out there – what’s on your must-have list when it comes to moving in?