The top five key features men and women are looking for when buying a home are the same but the things they are prepared to compromise on are a little different, new research from Leeds Building Society shows.
Responses to a survey carried out on behalf of Leeds Building Society showed that couples would agree on most of the dream property requirements, there are plenty of potential sources of discord.
Men and women have the same top five priorities for a dream home:
- Location – chosen by 75.9 per cent of women and 69.6 per cent of men
- Property size – voted up by 73.8 per cent women and 62.6 per cent of men
- Garden and outside space (66.8 per cent women, 56 per cent men)
- Property layout (62.4 per cent women, 49.3 per cent men)
- Off-street parking (58.6 per cent women, 46.9 per cent men)
However, the elements they were prepared to compromise on were a little different. Women were prepared to compromise on having a woodburner or fireplace (26.9 per cent), home office (25.6 per cent) or a new kitchen and bathroom (25.2 per cent). Men on the other hand were more prepared to give way over property layout (21.4 per cent), property size (17.8 per cent) and the need for modernisation (17.6 per cent).
Overall women seemed to view a purchase in more practical terms, while men were more focused on the financial aspects of the transaction. For women, amenities such as transport links, proximity to shops and good schools, and how much garden and outside space a property offered were of the highest priority. However, men appeared more interested in whether the property offers investment potential or options for extensions or modernisation. Men also were keener to have a home office.
Commenting on the findings, Martin Richardson, general manager of business development at Leeds Building Society, said:
“Buying a property is the biggest financial commitment most of us will make and it means so much more than bricks and mortar and how much the mortgage will cost each month.
“There’s a lot to think about for a single purchaser but when you’re buying with another person having to take account of additional views and priorities can make the process more of a challenge to be able to end up with a choice which suits you both.
“This survey shows many points of agreement in what men and women prioritise in their dream home but inevitably there will need to be compromise on both sides for such an important joint decision.”
“Buying a home together is naturally a compromise and is often a blend of practical versus emotional factors,” said Richard Sexton, Director of Business Development for e.surv.
“One thing that should never be compromised on is the need to obtain appropriate independent advice on the propery value and condition – it’s clear Leeds Building Society leads the way in ensuring that its mortgage applicants have access to this service from professional valuers as part of their offer.”
Men and women also agree on the biggest turn-offs although giving them different degrees of importance:
| Women | Men | |
| No garden | 1st – 40.4% | 1st – 29.6% |
| No driveway | 2nd – 14.2% | 2nd – 13.7% |
| Need for modernisation | 3rd – 9.5% | 4th – 10.6% |
| Stairs in the living room | 4th – 9.4% | 5th – 9.3% |
| Old heating system | 5th – 9.3% | 3rd – 12.7% |
