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 Midlands below.
Despite the introduction of a spare bedroom tax, the spare bedroom topped the list, with 25% of those asked believing an additional bedroom adds the most value to a property to potential buyers. 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, even the opening venue for a Scalextric Grand Prix or play room.
Having a garage comes in as the second best asset a property in the South West can have, with 17% of those asked thinking it added the most financial value. This differs to the rest of the nation, where the presence of a garage came in third (17%). Just falling short of second place at 16%, was additional outside space around the property, surprising given our tendency in this day and age to expand our existing property rather than upscale, an option only possible with said excess space.
Perhaps more surprising is that having an en-suite bathroom in the main bedroom was only fourth, at just 14%. An extra car parking space completed the top five with just 11% of those thinking it was the most important.
Good local amenities (5%), a strong internet connection (4%) and good community atmosphere (3%) were amongst the other assets that could increase a property’s financial strength. Despite ranking low, community atmosphere in the Midlands is still more important to homeowners in the region when compared to the rest of the UK, with it placing last at 2% nationally.
At just 1%, strong mobile signal was believed to add the least financial value to a property in the Midlands.
“I think a spare bedroom in the Midlands in particular, is always going to come out on top. The price of property now means that we are moving less and so the room to expand as our families grow, is always going to be a desirable feature.
Although additional features such as an en-suite and parking will bump up the price of a property, they won’t be as significant as an additional room, which can push you up a whole price bracket rather than a few extra thousand pounds.”Katie Smallwood
If you’re looking for an estate agent in the Midlands, click here to contact Katie Smallwood and get a free valuation.