Young people are more likely to buy a home regardless of safety, flood or crime risks as long as the price is right, according to research by home insurers, Aviva. It seems that perhaps unsurprisingly, price and affordability have the greatest influence on the buying decisions of youngsters.
Around a third of would-be home buyers aged 34 and under would buy a home in a high crime area, compared to fewer than one in five across all age groups.
Similarly, 44% of prospective homeowners aged 18-24 would consider living in a flood-risk area, compared to 23% across all age groups.
Encouragingly, younger residents are more likely to make changes to their homes in order to make them safer. Nearly half of under 25s (46%) had made ‘significant’ changes to their current properties, and 26% of those aged 25-34 had done the same. This compares to just 17% of over 55s.
However, younger people are less likely to have home insurance, potentially putting their homes and belongings at risk. While 93% of over 55s have home contents cover, this falls to just 57% for under 25s.
Lucie Banham, Director of leading security firm Banham Group says that in 70% of burglaries the point of entry is the door, and 5% get in using a key. Therefore, she says the first thing to do when moving is change the locks. She advises, “Often, you can just change the barrels of your locks and using a key registration system to track how many keys have been cut will ensure your keys and your property are kept safe.”
Other tips include having an alarm fitted (and regularly checking that it works), not leaving doors and windows unlocked (potentially invalidating your home insurance) and locking away tools and ladders that could be used by burglars to force entry.
Source: Aviva Home Security Report (2016)