How much would you pay for your 'forever home'?

How much would you pay for your 'forever home'?


Posted 4th April

How much would you willingly pay to secure your 'forever home'?

Well, a poll of 2,000 homeowners looked into our attitudes and habits, and revealed the typical adult spends over £335,000 on theirs, while the first step on the property ladder generally involve a two-bedroom semi-detached home.

However, after a period, homeowners start looking into upgrading to a three-bedroom home, where they could live for the rest of their lives. And when it comes to it, those who are in what is called their forever home have said they spent an average of 10 years saving up.

The study also looked into what actually constitutes a forever home, with two in five saying it's based on the memories made there, while 53 per cent think it's based on it the location.

Angela Bowden, home insurance specialist for Swindon Insurance which commissioned the study, said: "Everyone has dreams of what their ‘forever home’ could look like or include."

"As we get older our families change, and our requirements in a home fluctuate – we need enough space for all of our kids to grow, but once they make their own way that space could be wasted."

"This is what makes our property journeys so interesting, from our first tentative steps in property ownership, to finally owning the home we have always dreamed of."

The study further found that the average homeowner thinks they will have had three properties by the time they reach 65, while one in 10 think they will go through a minimum of four before finally settling down.

This comes after setting foot on the property ladder at the age of 28, in a home worth a typical £132,563.

When it came to first-time buyer properties, one in six bought a flat or apartment, while 35 per cent preferred a semi-detached home.

After moving into their first place, Brits would stay for an average of five years, prior to moving to on.

However, the study, conducted by OnePoll.com, also revealed a third of adults found it hard to take the first step, in part due to money struggles.

One in 10 said they had ended up watching on sadly as their dream house was bought by someone else at a price they couldn't afford, and as a result, two in five think it's harder to be a first-time buyer now than it was 20 years ago.






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