The Kitchen Rules When It comes to Open Inspections
According to a survey by leading mortgage broker Loan Market the most important room for buyers when inspecting a property is the kitchen.
The online poll which asked home buyers and owners, ‘When inspecting a property,which room is the most important to you?’ found that 49 per cent of 612 respondents said the kitchen was most important followed by 38 per cent saying the living area was.
However female and male respondents disagreed about which room was more important – 59 per cent of female respondents choose the kitchen as their first choice while only 37 per cent of males pointed to the kitchen, making it the second most popular option.
Female respondents found the living area far less important than males with only 24 percent naming it the key room for an inspection compared to 56 per cent of males.
Loan Market corporate spokesperson Paul Smith said these results shed some important insight into the real estate market as buying activity accelerates into autumn and as auction clearance rates continue their strong results.
“We’re seeing a steady stream of confidence return to the real estate and home finance market and with lots of great stock on the market; buyers are going to be very selective on the properties they inspect,” Mr Smith said.
Mr Smith said that many buyers wouldn’t necessarily be assessing a property on its existing fixtures and feature but rather its scope for renovations and improvements.
“Often time’s when a buyer shows interest in a property it’s because of the potential they see certain areas of the house or unit. Part of the mentality of today’s buyers is assessing how much effort and additional money may be required to get the property to that point,” he said.
Both males and females agreed the bedroom was the least important room at an open inspection.