What to consider when buying a home in the current market
When you’re searching for your dream property, some things never change. Unless you’re looking to renovate, choosing a home without inherent issues is one priority. And you probably already have an idea of how many bedrooms and bathrooms you need. However, it’s also likely your life goals have changed significantly since the dawn of COVID-19.
Did you know that recent surveys have shown that many buyers prefer closer proximity to open spaces than they did before the pandemic? Or that communication infrastructure is now just as crucial as the local transport network?*
Although the gradual reopening of society may lead to further lifestyle shifts, many people have already decided to move to fulfil their changing needs. Location may be more of a deciding factor for these buyers than ever before. This explains the urban to suburban or rural movement patterns we have observed after the last two years.
Once you’ve settled on your ideal area, it’s time to consider how the home will work for you. For instance, is there enough space for a home office? Even if you don’t need one now, you may in the future if companies continue to embrace flexible working. It’s also worth investigating your internet connection’s reliability and speed, especially if you’re moving to a remote country village.
Returning to the results of the 2021 MFS survey, we see that transport links lost some value in the eyes of buyers. While this may not be the case for you, it’s worth calculating how much time you’ll be travelling versus spending at home. The answer may impact the importance of road and rail links or your need for larger rooms or a bigger garden.
By valuing your current home, we can help you balance your changing needs with your budget. Just contact our agents directly by visiting our website.
*MFS Homebuyer Wishlist 2021