A recent study by Go Compare Home Insurance has found that buyers are increasingly looking for ‘connection, connection, connection’ when it comes to choosing a new home.
The survey found that the most desirable properties are located in good neighbourhoods, with low crime rates, near local shops and GP or dentist surgeries. But, the survey also found that potential home-hunters increasingly value superfast broadband, clear mobile phone signals, satellite TV and transport connections over pubs, schools and recreation facilities.
|Most desirable home location/facilities||%|
|1||A good area or neighbourhood||66|
|2||An area with a low crime rate||59|
|3||Good proximity to local shops||51|
|4||Near a good GP or dentist surgery||44|
|5||A good, reliable broadband connection sufficiently strong to stream TV and films||43|
|6||Reliable and clear mobile phone signal||42|
|8||A land-line telephone||33|
|9||Bus, tram or underground stop nearby||31|
A quarter (26%) of potential home-hunters prioritised good access to recreation facilities or nature while 14% were concerned about being near a good pub and 14% near a good school.
Ben Wilson, from Go Compare Home Insurance, said: “Location will always be a key factor for homebuyers. After all, while you can improve a property – you can’t move it. But it is too simple these days to say that it is the only consideration. Homeowners also expect to be connected in a way that wasn’t envisaged even 10 years ago. They will want to know about the transport infrastructure and communications as much as the schools, shops and amenities.
The location of a property will also affect the amount you pay for home buildings and contents insurance. A property’s postcode has a big impact on how much it costs to insure because premiums are partly based on the likelihood of you having to make a claim. So, if you live in an area with a high rate of burglaries, then you’ll probably face higher premiums for your contents insurance. Likewise, if you live in an area considered to be at higher risk of flooding then the cost of your buildings insurance will reflect this.”