When it comes to the most important features of a new-build home, buyers still value traditional resources the most when viewing properties, according to research carried out by the new home specialists, Stone Real Estate.
Buyers who have purchased new homes across the UK were asked to state which features they regarded as the most important when viewing properties in new-build developments.
New houses may offer additional desirable benefits, compared to existing housing stock, such as on-site amenities, ongoing customer service and, possibly, a concierge, Despite these useful facilities, the results of the survey show that for 30% of buyers the most highly rated feature is private or shared outdoor space in which to relax.
21% of those surveyed ranked a car parking space as the second most important facility, 13% cited the availability of amenities within a development, and 12% mentioned the close proximity of good transport links as the fourth most valued feature.
7% of respondents listed the importance of high-speed internet, while 6% regarded desirable catchment areas for schools to be significant. By contrast, internal features such as top-of-the-range kitchen and bathroom appliances and external facilities such as access to a gym in a development and the provision of a concierge service were regarded as less important.
Perhaps surprisingly, the payment of stamp duty by the developer was deemed to be of less significance by buyers of new homes.
Transport links and outdoor space
In London, however, the research findings were slightly different. Although outdoor space was the second most valued feature, 31% of would-be buyers ranked good local transport links as their first choice, and 11% considered the ability to park near their property to be important.
In fourth place, 8% of respondents ranked amenities provided within the development to be of value, while 7% chose new appliances. Popular catchment areas and stamp duty paid by the developer ranked equal in fifth place with 5% of respondents opting for both resources.
Consumers’ well-being and lifestyle
Michael Stone, Founder and CEO of Stone Real Estate, commented: “We’ve seen a marked change in the new-build sector, with developers focusing on the well-being and lifestyle of buyers of new properties, providing them with attractive areas in which to work, relax, socialise and stay fit, and making convenience a key consideration.”
As a consequence, he believes, buyers are now searching not only for the right property but also for the right lifestyle fit for them. This attention to detail and desire to provide what consumers want enable developers to remain competitive and stand out from the crowd.
Additionally, it has resulted in good value for home buyers who get much more for their money.
Stone added that although these extra new resources are liked and appreciated by buyers, the research demonstrates that primarily, buyers are looking for what they consider essential in a development, such as good transport links, outdoor space, amenities which are conveniently situated close by and car parking availability.
These traditional features, Stone believes, should form the basic building blocks of all new-build developments, and the developer can then add desirable luxuries such as a concierge service, an aftercare team and onsite amenities.