THE biggest motivation for first time buyers in Somerset to get on the property ladder is the investment potential.

A survey by Barratt Homes conducted by OnePoll has revealed that almost 69% of first time buyers in the area still believe the best thing they can do with their money is buy their own home.

Protecting their future topped the list of reasons to buy with a reluctance to rent for any longer than necessary coming a close second with 62%. 43% of those interviewed also felt it was now cheaper to buy than rent.

Other factors affecting first time buyers’ motivation to get on the property ladder in Somerset include the freedom to do what you want when you want with 54%. This was linked to being able to decorate your home as you wish with 47%.

Only 18% of people surveyed cited that they wanted to leave the comfort of living with their parents as a reason for wanting to buy their own home.

Barratt currently has a range of investments throughout Somerset including two, three and four bedroom homes designed to appeal to a wide range of buyers.

Barratt sales director Andrea Pilgrim said the research from OnePoll had highlighted that buying a property remained a cornerstone in personal wealth creation.

She said: “Getting on the property ladder remains the ambition of a large proportion of people. I think too, there’s a recognition that there has never been a better time to buy.

“Government-backed schemes such as Help to Buy remain very popular and mean buyers need just a five per cent deposit – far lower than people expect.’’

Professor Jackie Andrade, School of Psychology at Plymouth University, is researching how people's imagination affects their decisions.

She said: "Buying a home is invariably the biggest purchase anyone ever makes so it's interesting that almost half of respondents were motivated by the opportunity to decorate their home as they wished.

“This finding chimes with our research showing that imagination plays an important role in motivation. Imagining a warm, safe, and snug house decorated in your favourite colours evokes some of the pleasure of owning your own home. It helps strengthen desire for the security of making this investment and makes it feel a more achievable goal."