That's according to a new survey by AA Home Insurance, which asked prospective buyers about the features they want their next property to have.
Read on for the full list of what homebuyers are looking for, and for advice on what's happening to house prices and mortgage rates.
The features buyers want in a new home
The insurer surveyed 661 people who said they were planning to move home in 2024, with the top five most in-demand features as follows:
1. A garden (43% of respondents)
Perhaps unsurprisingly, house-hunters are drawn to properties that have their own garden.
Gus Park of AA says: 'Be it the hope of hosting parties in the back garden or creating a ‘mini-Wembley’ so the kids can have a kickabout, having a green space of our own still tops the charts when it comes to buying a house.'
Outdoor space is highly sought-after, but it can come at a significant cost, especially if you want plenty of room for entertaining.
A report by Savills last year found that properties with large gardens cost 39% more per square metre than those with smaller gardens. And back in 2020, a Rightmove report found that properties with south-facing gardens had a price premium of 7%.
2. Off-street parking (38%)
Buyers are also keen on having off-street parking at their new home.
3. Proximity to local amenities (29%)
Being close to the action was important for just under a third of homebuyers.
Being within walking distance of the local train or tube station can add value to a property, as can close proximity to the town centre and shops.
A recent report by the online estate agent Yopa found that homes within walking distance of a town centre commanded an average price premium of £82,000.
4. A garage (26%)
As with off-street parking, a garage can have both security and insurance benefits.
The impact of having a garage on the value of your property will depend on the type of garage you've got (single or double), whether it's detached from the property, and the scarcity of parking in your area. Some homebuyers may also be attracted by the potential of a garage conversion.
5. More living space (18%)
The market is more subdued now, but one in five buyers still considered more living space to be a key consideration.
How much a bigger home will cost depends on where you live. The latest Land Registry data shows detached homes in the UK cost an average of £161,000 more than semi-detached properties. In the south east of England, however, the gap is £241,000.
Top homebuyer priorities: the full list
undefinedWhat's happening to the property market?
The housing market has slowed down significantly over the last year.
In 2022, more than 100,000 house sales took place in eleven of the 12 months. However, that benchmark now hasn't been breached in any of the last 15 months.
Buyers and homeowners alike have been hamstrung by stubbornly high mortgage rates. This has led to a shortage of homes coming on to the market and sellers having to accept reductions in their asking prices.
Find out more:Are mortgage rates going to fall?
How to find the best place to live
If you are on the hunt for a new home, it's not just the property itself you'll be thinking about.
You'll also want to ensure you're buying in the best possible location.
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