What are buyers looking for when seeking homes?

What are buyers looking for when seeking homes?

For premium properties in London and the south-east, and the people who purchase them, status is as much a part of the selection process as comfort and the homely feeling that others might look for. 

Many will seek out homes at the top of residential skyscrapers, or those situated in the very best and most lucrative areas of the city over any other factor, while for others it will be all about price. But what are the most common factors involved in the sale of prime properties?

According to a new report from LuxuryEstate.com, London is everything for those with money to spend, outperforming many of its prime competitors around the globe like Miami, New York, Paris and new hotspots in the Middle East.

This concurs with a report released in January by the Association of Foreign Investors in Real Estate (AFIRE), while the fact that 85 per cent of new homes in London in 2013 were sold to non-Brits shows just the reputation alone can be enough for many people. But for some, there will be much more involved in the process of choosing a new home.

Perhaps surprisingly, when it's all stripped down, those who are purchasing the most expensive homes are looking for mostly the same sorts of things as everyone else - just on a grander scale.

LuxuryEstate.com's report stated that the number of bedrooms is the most likely factor to affect someone's decision when house hunting. 

For 25 per cent of people buying in the prime market, at least six bedrooms is the most important aspect of their potential new home. 

Below this on the list, but still vitally important for many, is the number of bathrooms. Even when viewing smaller properties, 22 per cent said they would not be interested if the house had fewer than two bathrooms.

However, the company's president, Silvio Pagliani, said that all of this is always trumped by location and size, which have remained as the biggest swaying factors for those on the hunt for new places to live.

"Size is the ultimate status symbol to those wanting to buy a home in the countryside, but in London for example proximity to Harrods will often trump concerns over square footage for a residence," he concluded.