More than three in five first-time buyers say 'extra space' is their top priority when buying their first home, reveals Alliance & Leicester.
Latest survey by the mortgage lender suggests 63% of first-time buyers see the 'luxury' of having two or more bedrooms as the most important factor when stepping onto the property ladder.
Some 51% deem being close to public transport as a major decision driver when looking at buying a home. This is particularly apparent in London where 74% are keen to find a property in an area with good transport links.
Having access to good car parking is also important for about 46% of expectant ladder-climbers.
The research - which questioned 1,200 first-time buyers about what mattered when choosing their first home - shows 26% would also base their decision on how much they would have to pay in council tax.
Paul Cooper, head of mortgages at Alliance & Leicester, believes this shows that housing market newcomers are taking into account all the costs that comes along when buying a house.
He says: "The fact that choosing a property with a low council tax band matters to a quarter of first-time buyers is very encouraging as it shows that they are taking all the associated costs of owning a home into consideration, not just the mortgage payment."
Demographically, the taste seems to vary among potential first-time buyers. Around half (50%) are opting for the outskirts of a town or a city, while over a third (36%) are choosing to live in a town or a city centre. That said, only 14% says rural living is their number one choice.IFAonline
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