Which features add the most value to a property?

Adding additional value to a property is an excellent way of both increasing the price a buyer might pay for it and also ensuring it sells fast.

Buyers who are considering upgrading to a brand new home are already in a strong position to make a quick move because there is no chain of buyers above them. That means that the faster they can sell their existing property, the faster they can complete their sale and gain the keys to their new home.

The housing market is strong at the moment, with demand far outstripping supply. In fact, research [1] carried out by the National Association of Estate Agents shows that, in September 2016, demand for housing rose by 16%, while the number of homes available to buy decreased marginally – from 41 per branch on average to just 40.

But even so, enhancing a property with additional assets can boost its value and help the seller take advantage of the market. So what adds most to a property’s value?

A spare room

Perhaps it is not the easiest thing to add to a home at the last minute, however, research [2] from eMoov.co.uk shows that 25% of homeowners believe a spare bedroom is the best way to add value to a property. Potential buyers may not need another bedroom but everyone can think of a use for an extra room, whether as a home office, hobby room or even for games.

Research by Nationwide suggests that adding an extra bedroom can add between 9% and 10% to a property’s value, while adding an extra bedroom and bathroom via an extension or loft conversion can increase a home’s value by as much as 20%.

Of course, it may not always be possible to extend a property and homeowners should be reassured that there are other ways to boost the value of their home.

Enhanced space

It may not be possible to expand the space in a home but it is certainly possible to maximise it. eMoov revealed that 19% of homeowners feel outside space adds the most value to a home.

Trimming and removing any overgrown bushes and ensuring the garden appears open and appealing can maximise the space available and allow would-be buyers to see the full potential.

Likewise, maximising the space inside a home by removing any unused furniture or items during viewings can help sell a property more quickly and for a good price.

A better kitchen and bathroom

It’s an old adage that kitchens and bathrooms sell homes, but estate agents certainly still believe it to be true. Sainsbury’s Bank polled more than 100 estate agents [4] across the country and found that 57% agreed improving the kitchen was the best way to see a return on investment, while 33% saw upgrading bathrooms  as key.

That does not necessarily mean ripping out the fittings and installing a brand new bathroom or kitchen. Not all would-be sellers have a lump sum of cash handy but it is often possible to enhance and touch up a room without enormous expense.

A conservatory

MoveWithUs polled estate agents [5] and discovered that a conservatory typically adds around 5% value to a home.

With an average conservatory costing around £9,000 to fit, that can be a real boost for a property. One way to check if a conservatory would increase the value of a home is to use property search websites like Rightmove [6] and Zoopla [7] to view similar local properties with and without conservatories, to see how much they increase the price within a specific area.

Don’t over-decorate

It may seem like the best way to get a home into saleable condition, but spending a lot of money decorating a property can be a waste, according to eMoov.co.uk
.

Its founder Russell Quirk commented: “Often those looking to sell will pour money into additional DIY projects around the house, in an attempt to increase the value of the property and justify pushing up their asking price by a few thousand pounds or more. Unfortunately, a lot of the time they may as well be pouring it down the drain, as potential buyers will care little for aesthetic improvements, due to having their own long time view of how they want the property to be.”

The joy of new

After a tiring few months prepping an existing home for sale, it can be a relief to move into a brand new home. With our newly built homes, not only is everything new and high spec, but you also get a blank canvas that you can style to suit your requirements once you’ve moved in.

That means our buyers step into a home that’s ready to be lived in, with no further building or upgrading required.

1 Source: www.naea.co.uk

2 Source  www.emoov.co.uk

3 Source:  www.nationwide.co.uk/

4 Source:  www.propertyreporter.co.uk/

5 Source:  www.movewithus.co.uk/

6 Source:  www.rightmove.co.uk/

7 Source:  www.zoopla.co.uk/