Are you among the 56 per cent of people that say they're already living in their 'forever home?'

Over half of Sheffield people already live in their forever home, according to new research.

Wednesday, 11th September 2019, 13:43 pm
Do you live in your dream home?

The phrase ‘forever home’ has become fashionable in recent times – and an interesting new homeowners study has shown over half of people in the city are already living in theirs.

The study, from the Nottingham Building Society, highlighted the UK areas in which people are happiest with their homes, revealed that 56 per cent of those from the Steel City said they are content to live where they do now for the rest of their lives.

Only in Glasgow and Liverpool did more people say they already live in their forever homes (58 per cent), with Cardiff (55 per cent) and Manchester (49 per cent) next on the list.

The survey also found people believe they will be aged 41 on average before they purchase their forever home, despite the average age of those who have already moved into theirs being 36.

Brendan O’Connor, cluster manager for The Nottingham’s Sheffield, Crystal Peaks, Firth Park, and Buxton branches, said: “The research is interesting, and backs up what those of us who live in the area already know – that Sheffield is a fantastic place to have a property.

“It’s really satisfying to see that so many people are happy with their homes in the area but we are also well aware that there are, in theory, still 44% of people who are working towards getting their forever home.

“And that’s where The Nottingham’s all-under-one roof proposition really comes to the fore. We offer a range of savings accounts, access to a whole of market mortgage search and financial advice.

“We can even help members insure their property once they have landed their forever home, or with a remortgage if they are already in it.”

The average amount the nation thinks they will need to spend to move into their forever home is £474,389. The average UK house costs £227,000. Staggeringly, one in ten people say they expect to spend up to £1million on the property they will be living in for the rest of their lives, and one in 20 (4 per cent) plan to spend up to £5million.

Location was the top priority for buyers choosing their forever home, with 50 per cent of respondents highlighting it as the most important aspect, followed by the size of the property (16 per cent) and the price (13 per cent).

When it came to the features of the property, outdoor space was key, with over 68 per cent choosing a back garden as an essential, followed by 49 per cent wanting a front garden. A garage (45 per cent), en-suite (39 per cent) and at least three bedrooms (38 per cent) made up the top five most coveted features.

The Nottingham has created a fun quiz to help find your perfect property, which can be found here: https://www.thenottingham.com/forever-home/