Top five status symbols buyers want in their new home

February 21, 2018 / Isla MacFarlane
Top five status symbols buyers want in their new home

Developers should consider giving their show homes a retro feel, as a younger generation of aspiring homeowners become nostalgic over some of history’s finer finishing touches.

A recent study of 2,000 UK adults by Hitachi Personal Finance reveals the home features that Britons most associate with being successful, as well as the ones we most aspire to own ourselves.

The household items and features that were seen to hold the most status are:

  1. Wine cellar (27%)
  2. Walk in wardrobe (20%)
  3. Ride-on lawn mower (18%)
  4. Double garage (18%)
  5. Real wood flooring (9%)

However, the items that Brits aspire to own themselves the most are:

  1. Walk in wardrobe (29%)
  2. A log burner (22%)
  3. A Smart TV (21%)
  4. Real wood flooring (20%)
  5. A double garage (20%)

The research also looked at how ‘status symbols’ have evolved over time, from the 1950s when a toaster was the must-have item, through to the present day when a holiday home is seen as the ultimate status symbol.

Younger people showed a larger desire to own interior items, with 18-24 years olds expressing an interest in owning a walk-in wardrobe (47%), log burner (35%) or a wine cellar (27%) more than any other age group.

However, the older generation were more likely to already own items on the list. Two fifths (40%) of 45-54 year olds said that they have a Smart TV at home, and people aged 55 and over were the most likely to own their own coffee machine (31%) and a double garage (14%).

Vincent Reboul, Managing Director at Hitachi Capital Consumer Finance, said, “For anyone looking to invest around the home – whether through home improvements or simply buying a new TV – these findings provide a good indication of the areas that are most likely to impress the neighbours.

“Looking at our timeline, we can see that what were once considered luxuries, such as toasters and washing machines, are now everyday essentials. On the other hand, some of the status symbols of today may well have been commonplace in the 50s and 60s, such as wood floors and log burners.

“Based on our research, it’s a very real possibility that we could soon see the resurgence of some classics from the 80s and 90s, which we’re already finding with the revival of vinyl records and retro games. It’s interesting to think about what the future will hold and when the status symbols of this generation will begin to become outdated!”

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