Brits still aim to buy dream home

Despite the economic pressures and downturn in the property market, living in a dream home is still a goal for over 60% of us, according to Legal & General's latest ‘Home Sweet Home' survey.

For one in five, a country character house would be their dream home. A detached home with a garden in the suburbs was next choice along with or a self-build or self-designed home, which were mentioned by 18% of those surveyed.

The top location for that dream home this year is in a village, 25%. This is a jump of 17% compared with the last survey, when only 8% mentioned this as the location for their dream home.

The Home Sweet Home survey, now in its fourth year, aims to provide an insight into Brits' views of their current home, the areas where we would most like to live, as well as views on our dream homes.

- A dream home located by the sea at 22% or in the country at 20% again feature strongly in the previous survey of top choices. ( 2006: country location, 32% and by the sea, 25%.)

- Suggesting that an inner-city lifestyle is still not top of our wish list nearly double of those surveyed mentioned that their dream home would be in the suburbs, 16%, rather than the city, 9%. (2006: suburbs, 17% and the city 8%.)

- Five counties share top spot for the location of a dream home:

Top Five Counties 2007
Cornwall
Devon
Greater London
Surrey
Yorkshire

- North America at 17% is the top location for a dream home outside the UK. (2006: Australia/ New Zealand was top at 23%.)

The dream home of the future

With the Ideal Home Show celebrating its 100th anniversary we also asked for views on how their dream home of the future would look. Over 30% thought the future dream home would be an intelligent home and nearly 25% thought that homes would be more environmentally friendly, with better insulation and adapted to the changing climate. Although probably wishful thinking, 3% suggested that we may have homes that cleaned themselves in the future.

Current Home

Only 15% of respondents describe their current property as their dream home.

When selecting their new home, after the price, 24% looked for a quiet location, and 21% mentioned that the size of the rooms as the key factors in choosing what home to buy.

The living room still tops the list as the favourite part of the home at 48%.(2006; living room, 45%)

The kitchen, 35%, and bathroom, 28%, receive most mentions as parts of the home that need improvement. (2006: bathroom, 19% and kitchen, 18%)

Nearly 40% of Brits spent less than £1,000 making improvements to their home.

Over 40% of respondents stated that they would use the internet to find a future home whereas an estate agent was the top choice for their current home.

When asked what makes their place a home, family was the main reason given, mentioned by nearly half of those surveyed, 47%.

Garry Skelton, Marketing Director for Legal & General's general insurance business said: "The survey would indicate that people are still quite positive about the future housing market given the number of respondents who still wish to live in their dream home. However, probably reflecting financial concerns, the number of Brits who do not expect to ever live in their dream home has risen from just over 20% to 30% since the last survey.

As a leading provider of household insurance cover in the UK, information from the Home Sweet Home survey is extremely helpful in understanding customers aspirations, as well as their concerns and the impact this may have on their home insurance needs in the future. For example, from the responses to their views on dream homes of the future, environmental issues and increased awareness of climate change is already influencing customer's perspective of future home life. By being attuned to our customers changing needs we are better placed to offer household insurance cover that gives them peace of mind - whether that is now or for those dream homes of the future."