Latest consumer research by leading fixed fee estate agent, Emoov.co.uk, has revealed what UK homeowners believe add the most financial value to a home during the selling process.
Emoov surveyed over 1,000 UK homeowners and asked them what they think adds the most financial value when looking to purchase a property? To see the breakdown of the national results you can find the full report here, or check out the results from homeowners in the capital below.
Despite the introduction of a spare bedroom tax, the spare bedroom topped the list, with 22% of those asked believing an additional bedroom adds the most value to a property. The appeal of the spare room stretches far beyond its use as an extra place to sleep and can be utilised in many ways whether it be a home office, salon, nursery, workshop or play room.
Just falling short of first place was the availability of outside space. Although the British summer is often a brief one, an outside space was the next best justification for a higher property price, with 20% of homeowners believing it added the most value. Having a garage and extra car parking space/s both came in as joint third best assets a homeowner’s property can include, with 13% of those asked thinking it added the most financial value. Not a huge surprise given that public transport is the primary mode of traversing the London landscape.
Surprisingly having an en-suite bathroom in the main bedroom was only fourth, with just 12% of those asked thinking it added the most financial value. A strong internet connection completed the top five with 7% of those asked thinking it was the most valuable asset when selling a property.
Strong mobile phone signal (5%) was amongst the other assets that could increase a property’s financial strength, with good local amenities and good community atmosphere coming in joint last position with just 4%. However, although in last place, having a good community scored 2% higher than the national results as a whole, which is almost ironic given London’s reputation as an anti-social city.
“Over the years, the features of a property that command the most value have gradually changed. The community and the presence of local amenities use to be at the forefront. But now the popularity of online shopping, lack of space within the capital and the dwindling community spirit have brought about changes in what makes a property more desirable than another.
I believe that we live in a modern time where our lives are totally focused around our working environment and our homes have become a sanctuary from the outside world, an escape from our hectic working week. Technology has also taken a massive leap within the last 10 years, which plays a crucial part of our everyday life, and it’s clear that items such as internet connection assists our modern way of life. This is particularly prevalent in the capital where the pace of life is so fast, that we take any shortcut we can to maximise the time we do spend at home.”Damien Elliosn
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