First time buyers have high expectations when it comes to the type of home they want to buy, according to new research from Clydesdale and Yorkshire Banks.
The study found that as many as 32% of those surveyed want to start off on the property ladder with a three bedroom home, while the next popular option was a two bedroom flat (24% of respondents).
Next on the starter property wish list is a two bedroom house (22%), followed by a three bedroom flat (10%). Just 7% said they would aim for a one bedroom flat and only 3% for a one bedroom house.
The next generation of homeowners also seem financially aware, with 35% stating that they want to buy a home because it is an investment for the future while a third (33%) believe it makes financial sense. A further 16% outlined that buying a home is cheaper than renting.
“This research shows that it is still challenging to take the first step onto the property ladder and many are now aiming for a larger property as their first home as they believe this is a good investment for the future,” commented Andrew Pearce, Retail Director for Clydesdale and Yorkshire Banks.
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