Research shows that nearly half of homebuyers prefer ‘freshen-uppers’.
- The allure of personalisation drives 47% of freshen-upper buyers.
- A third of buyers expect energy efficiency in turnkey homes.
- Convenience strongly influences home buying decisions for many.
- Roughly a tenth feel ready to tackle renovations themselves.
The recent study conducted by Jackson-Stops highlights that 49% of potential homebuyers show a distinct preference for properties termed as ‘freshen-uppers’. This choice stems from the appeal of personalising one’s home space, with 47% of buyers in this category keen to add their unique finishing touches, thus making their new dwelling an expression of personal taste.
In contrast, energy efficiency appears to play a significant role for those considering turnkey properties. Approximately 33% of prospective buyers are of the view that such homes should inherently incorporate energy-efficient solutions. This expectation aligns with the evolving standards in modern housing and sustainable living trends.
Convenience emerges as a pivotal factor in the decision-making process, with 27% of the surveyed individuals indicating a lack of time to oversee extensive renovations. For some, the necessity to relocate swiftly, due to job changes or familial obligations, makes ready-to-move-in homes an attractive option.
Despite the growing inclination towards freshen-uppers, only a minority of 10% express confidence in managing renovation projects themselves. This statistic underscores the perceived complexity and demand of overseeing property restorations, even as fixer-upper properties maintain a niche appeal, attracting 16% of buyers eager to unlock potential value through improvement efforts.
Nick Leeming, Jackson-Stops chairman, remarks on the complexity of choosing between project homes and turnkey options. He notes, ‘The desire for a project home remains significant, driven by the potential for customisation and value addition.’ His insights reflect the balancing act homebuyers face between aspiration and practicality in the housing market.
The preference for ‘freshen-uppers’ underlines a trend of customisation and convenience in the property market.
