Guaranteed rent in Lewisham | Research found that UK second steppers need a 4 bedroom detached property
Guaranteed rent in Lewisham – Detached houses are actually the property of choice for property owners moving up from their first house, new analysis shows.
Guaranteed rent in Lewisham | In 2010, 3 bed semi-detached properties is the preferred next step however now they are increasingly seeking to transfer to a bigger 4 bedroom detached house, based on the most recent report from Lloyds Bank.
The research additionally exhibits that second steppers spend 19 months longer of their first home than they expected, 37 percent are increasing their financial savings and 41 percent are overpaying their mortgage to fund the £58,000 soar to their next home.
In 2010 when 3 bed semi-detached properties had been the popular choice some 60 percent stated that they had been looking to move to a semi-detached home, with 48 percent also said detached properties would also be an option. Guaranteed rent in Lewisham
Fast ahead to 2014 and 54 percent of Second Steppers said that they’ll be looking to the next more to a detached house, now probably the most prepared option, with semi-detached properties reducing to 51 percent.
3 bed properties stay the preferred size of house in 2014 at 45 percent, although this has been lower by 10 percent since 2010 whereas 4 bed properties seeing a big improve in this time. Some 31 percent now say they’re in search of a 4 bed home, a rise of 7 percent.
Second steppers are becoming more and more ready for their next move and taking their time to make the move to jump up to a home. On average, they spend 19 months long in their 1st property than they anticipated as they continue to save and build up equity.
Overall, the average second stepper spends 4 years and 5 months of their first home. Only 6 percent of these people meant on staying put for over 6 years, however in reality, some 36 percent have carried out this.
Guaranteed rent in Lewisham |The research additionally found that 37 percent have increased their monthly savings in the last year, and 41 percent are overpaying their mortgage. As a result, the proportion of individuals concerned about the size of deposit they require to move also fell in last year, from 50 percent of second steppers in 2013, to 37 percent in 2014. This suggests that changing behaviors’ and increased levels of equity are permitting people to place more towards their next deposit and save for bigger homes.
The findings also present that second steppers could also be delaying having a family until they can move into an appropriate property. Guaranteed rent in Lewisham | Those moving as result of needing more room to start out a family have reduced by 9 percentage point in 2 years, to 22 percent, from 31 percent in 2012.
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