Quality and finish now top priorities for homebuyers, survey finds
Homebuyers in the UK are increasingly seeking properties that require little or no renovation, according to new research from specialist mortgage lender Market Financial Solutions.
The survey, which polled 2,000 UK adults—including 916 who have recently bought, are buying, or plan to buy a home within the next year—shows a marked change in buyer preferences compared to last year.
The findings reveal that 79% of respondents now consider the quality and finish of a property to be an “important” or “very important” factor in their decision-making process. This marks a significant rise from 2024, when quality and finish ranked fourth among buyer priorities.
Conversely, the potential for home extensions or conversions has become less important. Only 56% of those surveyed said this was a key consideration, placing it at the bottom of the priority list.
The data indicates that higher borrowing costs are influencing buyers to favour convenience and certainty, with many opting for homes that are ready to move into rather than those requiring extensive work. For mortgage brokers, this trend highlights the need to focus on clients seeking turnkey properties and to tailor advice and financing options accordingly, as fewer buyers are interested in renovation projects.
“Our ‘Homebuyer Wishlist’ survey monitors how the wants and needs of UK property buyers evolves over time,” said Paresh Raja (pictured right), chief executive of Market Financial Solutions. “The standout finding this year is that there is an increased desire for properties in a good condition.
“With borrowing costs still above the levels seen from 2008 to 2022, buyers are perhaps seeking stability and predictability, favouring homes that are ready to move into rather than those needing renovation or refurbishment. Any ‘doer upper’ brings uncertainty, particularly when it comes to the cost of materials and labour, as well as the potential for delays, which can present challenges from a financing perspective.
“But as ever, we have to appreciate that all homebuyers are different. Some will relish a project, others want the turnkey option. As lenders must double down on optionality when offering flexible, fast finance that allows buyers to act with confidence when the right property becomes available.”
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