Is The Pandemic Influencing Your Housing Priorities? What Tops Buying House Checklists for Now & After The Covid-age

We can all agree that 2020 was an out of the ordinary year. Due to Covid-19, the real estate market came to a halt alongside many businesses and, well… our normal day to day routines.

However, the Stamp Duty Holiday that ran into the new year helped many adapt their home lives to hone in on what matters the most: family, health and comfort.

With that in mind, it’s unsurprising to see a surge of people buying a house in 2021. Checklists are being rejigged and created to focus on long-term benefits as a new lockdown hasn’t been ruled out. Are you looking to move home too? Or invest in a new rental property that will stand out on the market? It’s helpful to know what now tops the buying a house checklist and features gaining popularity.

92% say a garden or outdoor space is important

A 2021 survey by London bridging loan providers, MFS, of 1,282 UK based homebuyers and homeowners reveals having access to at-home outdoor space is the number one priority following multiple lockdowns. Whilst a close 89% feel strong broadband, and mobile connectivity is crucial. The desire for outdoor space includes public spaces and parks near home. 84% say they’re a major deciding factor when moving, considering they boost mental and physical wellbeing. If you are selling a property with a garden that’s also near green space, before purchasing a new property, these amenities can work magic to attract a large pool of prospective buyers. And for selling above your asking price, which is currently happening often in the market.

89% say the square footage of a property is an important deciding factor when buying

It’s truly all about the benefits of more space after spending more time at home than ever before. Hence buying a larger property to live in the long term, even if it means an increase in living costs, is a growing choice.

However, the new 95% mortgage scheme can help you purchase a bigger property with a lower deposit amount.

Properties with garages and also annexes that accommodate office space or visiting family members are likewise gaining popularity and are sure to have the edge over the competition on the market in the months to come.

76% feel purchasing a property with the potential for extensions and conversions is important

Property investors are in a better position to apply for a mortgage and get approval due to current tax savings. So if you’re looking to sell your property and scoop up a new buy-to-let home – now’s the best time to begin.

Increasing property prices

The pandemic has brought into focus the internal design of homes. In recent months, properties poised for transformation have superseded the buzz around open-plan living and garden offices. After all, many of us have taken to d.i.y or home improvements during the pandemic or are now working from home in the long run.

And as recreational and leisure facilities allow more visitors, properties in edge-of-city areas suited to expansion and adaptation, such as those with a spare bedroom that can be converted, are anticipated to become more popular.

Making such improvements also adds to a property’s value besides a refreshing new look to your home—a fantastic incentive for reselling in the future.

Did you know that UK developers and architects are already responding to the shift in home buying priorities by focussing on innovative biophilic design? Research has found that incorporating direct or indirect elements of nature with homes reduces stress and increases productivity and creativity. If you are open to exploring properties for sale in North London that are apt for transformation or have ample outdoor space, don’t hesitate to contact our estate agents at Anthony Pepe on 0208 440 5000. You can also start browsing properties for sale in North London at https://www.anthonypepe.com/property/for-sale/in-london

We take great pride in our community and would love to let you in on what makes North London such a fantastic place to live and enjoy.