Almost one in three homebuyers would be prepared to pay up to £10,000 more to secure a property in a perfect location, prospective mortgage holders may be interested to know.
According to a survey by Halifax Estate Agents, a further 12 per cent would even consider paying between £10,000 and £25,000 for a good position.
With regards to the most-desirable features, 26 per cent of people who valued location wanted to be close to the countryside, while 18 per cent valued healthy transportation links and 14 per cent put a premium on being near a good school.
The research may be of interest to many prospective mortgage holders currently looking for a first home in the countryside.
"The fact that so many house-hunters would be prepared to pay more for a property in their ideal location demonstrates how important this is in the home-buying process," remarked Colin Kemp, managing director for Halifax Estate Agents.
Once a homebuyer has fixed on their dream home, they may need to arrange a mortgage unless they can afford to buy the property outright.
Typically, the majority of first-time buyers opt for fixed-rate mortgages instead of tracker mortgages, since this enables them to guarantee repayments during the initial mortgage term.
Prospective mortgage holders alerted to value of location
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Prospective mortgage holders alerted to value of location
Wed, 11 Apr 2007
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