Off-street parking and school catchment areas once topped the list of things home-buyers looked for in their first home.
But, times have changed and now it seems that millennials have very different priorities when it comes to choosing a property.
A survey conducted by M&S Bank of 2,000 Brits under the age of 35 found that an increasing number of young home-buyers are opting for style over practicality; something its researchers put down to the so-called “Instagram effect”.
So much so, that the top demands for a first home include everything from a spa-style bathroom to trendy polished concrete floors and a log burning stove.
In fact, the survey found that as many as 92 per cent of millennials said they would compromise on the size of their house if it was in a cool desirable location, while 73 per cent said they would be willing to spend more on a house in an “Instagrammable” area.
Other must-haves included in the list were a kitchen island, open plan living space, a garden fire pit, home office space and underfloor heating.
“Our research has highlighted an important trend that’s making a huge impact in the housing market,” said Paul Stokes from M&S Bank.
“Young people have completely different priorities than the generations before them.”
When it comes to what turns off millennial home-buyers, 26 per cent said avocado-coloured bathroom suits, while 15 per cent said patterned or coloured carpets would be a no-no.
Other features that would deter them making an offer included artex ceilings, pebbledash walls, net curtains and a conservatory.
The survey also found that a third of millennials had never considered things like council tax band or access to a local GP when choosing a property.
Similarly, just 20 per cent considered school catchment areas to be a priority, and only 12 per cent were concerned about having a driveway or off-street parking.
When it comes to local amenities, half of the under 35s polled said their dream home would ideally be near a good local restaurant, while 42 per cent wanted some green space and 39 per cent would not move into a house unless there was a gym nearby.
The 10 things millennials want in a “perfect” home:
- Kitchen island
- Nice views
- Underfloor heating
- A spa style bathroom
- Loft conversion
- Open plan living space
- A garden fire pit
- High ceilings
- Home office space
- Log burning stove
