First time buyers 'look for energy efficiency when home buying'

02-Apr-2007

A total of one in five first time buyers would avoid buying a home that was not energy-efficient, new research states.

In addition, 33 per cent of those purchasing a home - including first time buyers - decorate their new properties as soon as they move in, according to Yorkshire Bank.

These findings form part of the bank's study into the habits of those homeowners preparing to sell their houses.

Yorkshire Bank suggests that the one in three homeowners who splash out on decorating their properties before a sale could be wasting their time and their money.

"An energy-efficient home, whether it is motivated by concerns about global warming or the size of future heating bills, is moving higher up the wish-list," said Gary Lumby, the bank's head of retail.

"New kitchens and bathrooms can add value and keeping the colour schemes simple could help attract buyers as it creates a blank canvas," he added.

A number of would-be first time buyers could be awaiting next week's interest rate announcement before deciding whether or not to begin the home buying process.

To find out about those mortgages specifically aimed at first time buyers, see our best buys for first time buyers table.

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