How many properties does the average UK homeowner live in? How many different cities do they live in? Another interesting article from ‘House Beautiful’ offers 10 strange facts about us homeowning Brits…
This is according to new research commissioned by Origin, manufacturer of bespoke aluminium bi-folding doors, residential doors, windows and blinds.
The survey looked at 2,000 UK homeowners to find out the different stages of property buying for the average British homeowner and how property aspirations change over time.
‘With the cost of moving so high, we have seen that families now choose to improve their current homes, rather than move,’ Ben Brocklesby, director at Origin, said. ‘Many years ago, a home would be for life, but that changed and people started moving as their needs changed – whether it be as a result of a new job or starting a family.’
10 FACTS ABOUT THE AVERAGE HOMEOWNING BRIT…
- Bought first home aged 26
- Will live in seven different properties throughout their life
- Spend four months and three weeks settling into a property
- Will spend £26,295 redecorating
- Will take 20 years and nine months to pay off their mortgage
- Move out of their parent’s home aged 21
- Will have two mortgages
- Downsize at 56 years old
- Will live in two different cities
- Will spend £134,864.82 paying off their mortgage
The survey also discovered that the average UK property is estimated to be worth £249,127, with the typical mortgage being £542.41 per month.
Of those who have ever had a mortgage, 39 per cent have paid it off, with the largest proportion of them – 27 per cent – aged 55 and over. Of those surveyed, 29 per cent live in properties built before the 1950s.
The average UK home has three bedrooms and the most popular style of interior is ‘modern’ followed by ‘English country’ and ‘minimalist’.
A third of homeowning Brits currently live in a semi-detached property, over a quarter live in a detached house and 15 per cent live in a terraced home.
How true are these for you?