Investing in property is a daunting process that is both meticulous and time-consuming. From exterior to interior and everything in between, all of the changes and intricate details of your house contribute to the big jar of property value. However, with these eight factors from eight of The List by House & Garden's specialists, the advice given here is a helping hand in preventing alterations that can have a negative effect. Whether you are considering a renovation or looking at a new property entirely, this article has something for everyone.
"Does the orientation make the most of the natural light and garden/landscape views? Is there a large Living Kitchen with a connection to the gardens?" Moulding advertises making it a priority to ask these questions prior to investing in property. "Historic houses were originally designed with kitchens on the dark, service side of the house from where the staff prepared food. The principal rooms for dining and withdrawing were on the side with the best light and views. Nowadays, we live in our kitchens with good family space and breakout snugs. An unaltered historic house will need this potential to be unlocked. Similarly, with the modern demand for master suites to include interconnecting dressing rooms, bathrooms and bedrooms. Guest accommodation will need to be separate with interconnecting ensuite bathrooms."
"First impressions always count, this is why the front door to your home (and front garden or driveway) can say a lot about the rest of the house to potential viewers," says the team at Domus Holmes. “If you cannot afford to replace the door, make sure it looks new by giving it a deep clean or fresh coat of paint. Even a new doorknob, house number or name plaque can make the difference. The facade sets the style and character of the home therefore, a neat and tidy presented façade along well-maintained front gardens and borders will add to the overall kerb appeal."
For those who are based in London or looking to make the move, Middleton Advisors believes that the "proximity to a tube station can significantly impact property value. If a property is too far from a tube station, it affects commutability. Conversely, being too close to a tube station, with the associated noise and visibility, can devalue a home by up to ten to fifteen per cent."
"Since the pandemic each one of our renovation projects has included at least one home office – more often than not we’ll be asked to create space for two and in some cases three if parents want their children to study outside of their bedrooms." Edo Mapelli Mozzi, Founder and CEO of Banda goes on to say, "where possible we bring in as much natural light as possible to create a sense of calm. Using sustainable and natural materials throughout such as walnut or oak desks and soft, handwoven rugs sets the tone for creativity and handmade inspiration. If a client comes to sell, having dedicated workspaces can really help elevate a home for modern-day living."
"In the UK we are notoriously bad at storage, particularly when compared to our US counterparts," comments the team at Aykroyd & Co. "We always encourage our clients to make the best possible use of all available space, with bespoke joinery being a particularly efficient way of enhancing space. Not only is it aesthetically appealing and can make a bland space come to life, but it is also immensely practical and can instantly make a space feel less cluttered and more curated. Vitally, it also protects the need for what could be a substantial initial cost, along with the effort and time involved, to an incoming buyer."
"The age, condition, and adaptability can be crucial factors in determining a property's market value. Often, a historic or architecturally significant home can attract a higher price due to its unique charm and character. In particular, those that have been well-maintained or tastefully renovated to enhance modern living gain increased attraction and can command a significant premium." The team at Garrington goes on to say, "additionally, homes with existing planning permission for alterations or extensions offer added value, saving future owners time and money on potential upgrades. These factors collectively make properties more attractive and valuable."
"Flats with high ceilings and great views will always command premiums so it’s important to understand this before making an offer," says the team at Black Brick. "Agents and valuers always focus on price per square foot/meter but volume is hugely important when determining value. For example, a first-floor apartment on Eaton Square with over three-metre ceiling heights can trade for fifty per cent more than flats on other floors."
"Sometimes you come across a hidden gem with an uplift in value over a short term. In this case, 44 Tite Street, a Grade II* listed Artist Studio house in the heart of Chelsea. The value is temporarily low at a very reasonable discount, in the light of a luxury development planned in the street." Tom Lamb Advisers have noted that "interestingly, the development will need to be architecturally sympathetic due to planning and Royal Hospital Conservation restrictions. Once built, this will have an immediate positive impact on values in the street. In my experience of 23 years in this end of the market, there will be a significant value increase upon completion for the owner: cases in point Chelsea Barracks and One Hyde Park."
We hope these factors can prevent mistakes when investing in property, no matter your taste or style.
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