Would You Pay £125,000 Extra to Live Somewhere Scenic

According to a new report published by Lloyds Bank, it has been found that people of home-buying age across England and Wales are paying £125,000 extra to live in some of the country’s most scenic, picturesque areas. Furthermore, house prices in some national parks are up to double those in nearby areas outside of national parks.

Paying a Premium for Green Space

Anybody who lives or works in a large city can understand the lure and appeal of moving to somewhere green, fresh and picturesque. However, you might not expect that house prices in some of the UK’s greenest areas are actually upwards of double the cost of nearby homes.

Take properties in the New Forest, for example, where homes are the highest premium compared with those in nearby areas.  It might surprise you to learn that there, homes cost on average £259,066, which is over double the cost outside of the national park boundary.

Finding an Affordable Country Home

You don’t necessarily have to pay double more though to locate a home in a natural wonderland. In Snowdonia, north Wales, for example, the typical house price is roughly £173,779, which is a mere 5% over the average asking price of homes close by.

This means that if you’re looking to move out of the city, relocating to north Wales could be just the ticket. For a comprehensive list of where to buy, see the tableat the bottom of this BBC report.

Investing in a New Home

With house prices rising now faster than they have been for the past half-decade, now is a good time to take what money you have saved and invest it into property. If you’re of a pension-drawing age, and you have a SIPP – or Self Invested Pension Pot – like the ones offered by Sanlam you can use some of your pension pot to fund the deposit of your new home if it is that little bit out of your current reach.

Once you’ve located, not only will you have a new home that is out of the way of the City and in an extremely beautiful area, you’ll also have made your home in a location that is desirable to future potential buyers, meaning that if you ever decide to sell, you’ll be able to fully capitalize on your home’s great location.

Paying £125,000 more than the nearby average for a property that’s in a pleasant area might not be everybody’s idea of value, but the good news is that if you look in the right areas (like north Wales), you just might not have to.