We know buyer demand has evolved recently in the housing market. Given the lockdown periods, you cannot blame buyers for re-evaluating what is important to them in and around the house.
There are some functional features that help people make more of their home, and the right change can even add value to their property. If you want to stay in touch with what is in demand across the housing market, especially in Biggleswade, be sure to connect with Country Properties.
Home gym listed as top addition
A home gym is said to add around 44% in value, and by the average value of property, that equates to £116,267.
This seems a significant rise, and not one that every property owner adding a home gym should expect to benefit from. It is also important to note that not all home gyms are the same. As long as the owner feels a benefit, there is merit to any form of home gym.
However, it is clear to see a home gym set up in a garage space, where a lot of time, effort and money has been put into the process will have a more positive impact on the property, and the property value.
An extension can transform a home
The same study also looked at the value that can be added to a home by extending the property. An extension was found to add as much as £97,770 based on average property values.
Of course, as is the case with the home gym, not all extensions are equal. A good extension takes note of the style of the home, and the prevalent style of houses in the local area. While an extension should add more room to a house, it should fit in with its surroundings.
A spacious conservatory or extension which is at odds with the rest of the property or street is as likely to lower value as it is to increase the value of the property.
Other in-demand features and their impact on property value are as follows:
· A walk-in wardrobe is said to add as much as 34% to the value of your home, and this equates to £89,843
· A new kitchen can boost your property value by as much as £69,900
· A swimming pool could add £58,000 to the value of your home
· Upgrading your garden could boost the value of your property by up to £53,000
· Carrying out a basement conversion at your home could increase value by up to £45,000
· Converting your loft into a living space could add £28,538 to the value of your home
· Installing a conservatory could boost the value of your home by £26,000
· Adding or upgrading a driveway could add more than £23,000 to the property value
Adam Kamani, CEO and Co-Founder of MoveStreets, said: “There’s no doubt that the pandemic has changed the way we view our homes and what we consider a valuable addition having spent so much of the last two years within them. Any improvement that adds space is always going to appeal to buyers, however, it’s interesting to see that a space to keep fit now tops the table in terms of the most value-added.”
In line with Government guidelines, our Biggleswade branch is open and our sales and lettings personnel staff are on hand to assist you. If you have any queries or need advice on property sales and lettings then please call 01767 317799 or email email@example.com.