Is three still the magic number?
In the wake of the pandemic, the desire for a spacious and flexible home has never been stronger. Spending such a significant amount of time inside has made people re-evaluate what they really want from their space. As those needs continue to evolve, the property industry must think innovatively to ensure it can meet demand now and in the future.
Historically, three-bedroom homes have been considered the most desirable on the property market. Practical for downsizers and future-proof for young couples, they provide people with the perfect amount of space to feel at home. However, whilst this may still largely be the case, it doesn’t mean that the two-bedroom home has become entirely redundant.
Recent figures from Graven Hill, revealed that, although the majority of custom build purchasers (34 percent) opt for three-bedroom new homes, two-bedrooms weren’t far behind. So, whilst a larger home is still a firm favourite, it’s clear that the two-bedroom home is still enticing buyers.
Three-bedroom homes offer luxury beyond the basic requirement of a place for homeowners and guests to sleep. They also provide an opportunity to transform an additional space into an office, hobby room or even a nursery. However, this doesn’t mean that the property industry should just focus on building larger houses. According to recent research from RightMove, two and three-bedroom semi-detached houses are being snapped up the quickest, with 30% marked as sold within a week of listing. While it is often the case that the third room is much smaller than the others and doesn’t provide much square footage, the magic number three still manages to draw buyers in. So, what can be done to maximise value for money?
The needs of homeowners continue to evolve, and developers need to prioritise flexible, more versatile house designs that give people options to tailor their space, regardless of the number of rooms. With more people than ever living in the UK, finding enough space to build sufficient sized homes is a new challenge that the property industry must overcome. This could be done by reconsidering the house layout and looking for areas that can be utilised as additional space.
Although there is no doubt that three remains the magic number in the home, as requirements continue to change, the modern house will be about more than just the number of rooms. To create forever homes, new property experts will need to offer inexpensive solutions to support flexible living.
Karen Curtin, managing director at Graven Hill, the UK’s largest self and custom build community.
For more information visit www.gravenhill.co.uk.