According to a survey by mortgage broker Loan Market, the most important room for buyers when inspecting a property is the kitchen.
Results showed that about 49 per cent of the 612 respondents said the kitchen was the most important room. Based on gender, 59% of women chose the kitchen as their first choice whereas compared to only 37% of the men doing so. Interestingly, the living area was far less important for female respondents than males with only 24 per cent naming it the key room for an inspection, compared to 56 per cent of males.
Loan Market corporate spokesperson Paul Smith said this survey provided some important insights into the current real estate market which is continues to get stronger. He believes “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 of the properties they inspect.” Mr Smith also added that “many buyers would not necessarily be assessing a property on its existing fixtures and features but on its scope for renovations and improvements.”
“Often when a buyer shows interest in a property it’s because of the potential they see in certain rooms of the house or unit,” he said. “Today’s buyers have become astute at assessing how much effort and additional money may be required to get the property to that point.”