Features often overlooked by agents and buyers now, such as double glazing and insulation, are likely to become high up on buyers’ wish lists as the new energy price cap increases in April.
That’s the view of First Mortgage, a broker, which says its survey of buyers has shown that features such as double-glazed windows (27 per cent), roof insulation (21 per cent) and a modern energy efficient kitchen (32 per cent) are the top three features first-time buyers want on a property.
First Mortgage compliance director David McGrail says: “I’d strongly encourage all buyers, who are looking to move shortly to consider the practical, often overlooked features such as double glazing, roof and cavity wall insulation. Having a home that is energy efficient is going to become more important than ever this year as the price of heating rises to levels not seen before, it is important that our homes are keeping the warmth in.
“When looking to buy you should be looking at what the home has in place already that will help with the energy efficiency of the property. Estate agents will be able to let you know what the Energy Performance Certificate rating the home has. A good rating could save you hundreds per year in energy bills.”
Not all plans for first homes are so practical, however.
According to the broker’s research, a third of prospective buyers would be happy to splash out £1,355 on a walk-in shower, whilst a quarter are willing to pay over £1,500 for a kitchen island. However, other in demand features also include bi-fold doors where Brits would be happy to spend £1,765 to have these as part of their first property.
McGrail also explains why buyers shouldn’t to get too excited about aesthetics and instead look at the bricks and mortar your money is buying.
“It can be difficult sometimes, particularly when it’s your first home to get over excited and be wowed by aesthetics, rather than delving into the bare bones of the investment you are about to make. As nice as a hot tub or walk in shower might be, they are not necessities when you are looking to make an investment. But it is interesting to see what features are top of first-time buyers wish list.”