House Location vs Size
Location and home size are two of the biggest things a buyer considers when searching for a new home. The location has always been number one and is important for a variety of reasons but for many it is for family reasons. People want to live in a nice area where they can raise their children safely. However, size is equally important to many people when looking for the perfect home. Many new build homes offer much smaller living spaces and bedrooms which often puts buyers off. However, what is now the most important priority to a home buyer and which should be sacrificed to find the perfect home, size or location?
With houses now getting smaller and smaller as developers fight to cram as many homes as possible onto a site, size is becoming more important than location. It is estimated that new build homes are on average up to half the size of houses built between 1920 and 1950. Three bedroom houses have shrunk to the point where they are two bedrooms and a large cupboard and terraced houses are now most commonly two bedrooms which are actually more like one. With an ever increasing population there is an increased demand for houses forcing developers to make homes smaller.
Whilst finding an ideal location is important, finding a home with enough space is now more important. Many home buyers are now sacrificing the location of a home in order to have enough space to live comfortably. Even those who do not have children have agreed that if they could change anything about their home it would be the size of the rooms they have. It would seem that many of us now expect a lot more in terms of space for our money, leaving us with little choice but to sacrifice location.
RIBA recently published figures that showed that British people are living in some of the smallest homes in Western Europe. As larger homes become more and more scarce, home buyers will start to choose size more and more over location. There are of course those who in the current climate have no choice when it comes to location. It is now so hard to get on the property ladder that many home buyers have no choice but to buy in any area they can afford to just to be able to own their own home.
It would seem that location is no longer the number one priority when it comes to buying a home. Location is now 3rd to necessity and size showing that the property market has changed dramatically in recent years.