Where are we happy to live? And what are the most sought after and the key factors in our house purchase - as well as that dream home?

That’s what the Legal & General ‘Home Sweet Home’ survey over the last three years has sought to uncover.

The survey shows that although over 80% of respondents describe their current property as home, a similar number, 84% say it is not their dream home. Plus over 20% of Britons do not expect to ever live in their dream home – for them it will always be a dream.

A detached home with a garden in the suburbs mentioned by 23% of respondents is the dream home of choice. A self-build home at 18% and a country house at 15% are next favourites.

32% of people want their dream home to be in the country. Over double want their dream home in the suburbs (17%) rather than the city (8%), suggesting that the inner-city lifestyle is still not high on our agendas.

Supporting the latest Land Registry figures where Surrey is the most expensive county to buy property, it also tops the table as the favourite county for a dream home: 

Current Home

When selecting a new home, after price, a good neighbourhood and quiet location are the key factors in choosing where to buy. Good transport links, close to amenities and close to schools being further down our list of criteria.

The living room tops the list as the favourite part of the home at 45%. The bathroom (19%) and kitchen (18%) top the list of parts of the home that need most improvement. Yet almost 50% of Britons are not expecting to spend more than £3000 next year to make those improvements.

Other key findings

The number of people paying a mortgage on their current property has increased to 63% from 55% over the past year, with 80% of respondents buying their property with their wife or husband.

The number of respondents with more than one property has doubled since last year, from 7% to 14%.

Garry Skelton, marketing director for Legal & General’s general insurance business said: “The survey would indicate that given the increase in people with a mortgage on their current property, Britons still view the housing market as being buoyant.”  

“But it is also clear that people are buying a property that is below their true aspirations, given the number of respondents who are not living in their dream home and believe they never would.”

“However, last year’s survey did find that nearly one in five of us (17%) hoped to own their dream home before our mid-forties and that number has again grown but only slightly to 19% this year.”