Home Additions That Can Increase The Attractiveness of a Property
In the dynamic world of the property market, whether you’re in sales or lettings, staying ahead of the curve is crucial. As the property market evolves, so do the preferences of buyers and renters, meaning in order to maximise the attractiveness and value of your property, strategic additions and renovations can make all the difference. In this article, we’ll explore several home additions that can significantly enhance the appeal of your property, giving you a competitive edge in the market.
How Additions Can Increase a Property’s Value
As the property market evolves, what buyers and renters are looking for in a property can change over time. By making additions and renovations to a property, you can incorporate features and utilities that are in high demand. This not only gives you a competitive edge against other properties but also adds tangible value to your investment. Let’s delve into some key additions that can make your property more desirable.
What Additions to Make a Property More Desirable?
Converted Loft Space: Living space is always in high demand. Adding an extra room through a loft conversion can significantly enhance the marketability of your property. Not only does it make your property more attractive than others without such conversions, but it also increases its value. Most properties with loft conversions see their value rise by 10-20%, depending on the available floor space.
Adding a Conservatory: Similar to loft conversions, adding a conservatory provides additional living space, making your property more appealing. In the UK, conservatories are often seen as a status symbol, further boosting the attractiveness of your property. Adding a conservatory typically increases a property’s value by at least 5%.
Utilizing Unutilized Space for Storage: Ample storage is a highly desirable feature for homebuyers and renters. Transforming unutilized areas, such as space under stairs or small landing spaces, into storage areas can significantly enhance the appeal of your property. Incorporating shelving or cupboards in these spaces adds practicality and increases attractiveness.
Blackout Shades in Bedrooms: While soft furnishings may not always be considered major selling points, blackout shades in bedrooms can be a significant selling point for both renters and homeowners. Offering functional benefits, such as improved sleep quality, made to measure blinds with blackout fabrics can also be used as a negotiation tool to justify a higher price.
Air Conditioning Systems: In the UK, air conditioning systems are often perceived as luxury amenities. Installing such systems in your property can enhance its marketability and value, providing a sought-after feature that many comparable properties may lack.
Adding Balconies: Balconies are synonymous with luxury living and can significantly elevate the appeal of your property. Whether it’s a simple Juliet balcony or a more expansive outdoor space, adding balconies distinguishes your property from others and increases its overall value.
In a competitive property market, making strategic additions and renovations can significantly enhance the attractiveness and value of your property. Whether it’s creating additional living space, incorporating practical features like storage, or adding luxury amenities, each addition contributes to making your property stand out. By staying attuned to the evolving preferences of buyers and renters, you can ensure that your property remains highly desirable and competitive in the market.
You May Also Enjoy
Popping the Asking Price Bubble
Highest demand to lease office space since pre-pandemic
Planning consultations for major infrastructure to be streamlined
‘The property ladder pulls further away’ warns Open Property Group
How Long It Takes to Buy a House in the UK: 5 Common Delays That Can Slow Down Your Home Purchase
