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What will buyers pay a premium for?

 
 
 
 
  14 Aug 2019

Our job of determining the value of your property isn’t just calculated on its square footage or how many bedrooms it has. Other factors are also considered – some might be down to luck but there are others homeowners can have an influence over. Jezzards reveals the aspects that people are willing to pay a little bit extra for, with ideas for homeowners looking to add value.

What adds value?

There have been numerous reports over the years on what adds the most value to a property. We’ve trawled the archives for you and compared the research with our own insights to boil down what Jezzards truly believes adds value to a property. We’ve divided these into two sections too: value a homeowner can add and inherent value.

Inherent value

Open spaces: homes that are close to a park, woods, a garden square or a common can command some of the highest premiums – adding potentially as much as 20% to the value of a property.

Quiet streets: peace carries a real premium, particularly in Central London. A quiet street is estimated to add as much as 15% to a home’s value.

Good school catchments: with some radiuses less than a mile from the school gates, it comes as no surprise that parents are willing to pay a premium in the region of 12% for a property within the catchment of London’s best schools.

Fast broadband: a report that examined 15 years of data found house prices increased by an average of 3% when broadband speed doubled.

A room with a view: an attractive outlook is a great selling point, especially if the view is over water or features London landmarks. The right vista can command up to a 10% premium.

Historical/architectural significance: homes with fascinating histories are often appealing and buyers are willing to pay a premium for a back story – perhaps up to 5%.

The right supermarket: the Waitrose effect is real! It’s been proven to add a 12% premium to homes that are in close proximity of a branch. In fact, being within walking distance of any supermarket adds value.

Value homeowners can add

Off-street parking: parking in London can be a challenge, so a drive, allocated space or garage is a real asset.  Homeowners who can create off-street parking will almost always reap the rewards – adding as much as £50,000 in value.

Technology: smart home features and state-of-the-art appliances can boost a property’s value by up to 8%.

An annexe: flexible accommodation – especially examples that are detached from the main home – can add between 5% and 10% in value.

A* EPC rating: an energy efficient home may add a 2% premium but this is likely to increase with ever-rising energy bills.

Other ways to add value

If your property doesn’t come with any of the above features, or you can’t make any of the changes, don’t panic. There are other more conventional ways of adding value and attracting buyers. Why not start by decluttering, painting and styling, which can increase your home’s value by 5-10%. Also consider:

  • Repairing structural problems
  • Updating central heating, rewiring and plumbing
  • Converting the loft
  • Adding bedrooms/bathrooms
  • Replacing any single-glazed windows
  • Adding a conservatory
  • Gaining planning permission for an extension

If you would like us to value your property in its current condition and suggest ways of adding value, get in touch with your nearest Jezzards branch today.


Author

Jezzards Estate Agents



 

 

Jezzards properties Hampton

What our clients say about us

  • " Rated high with very good reason. Great customer service, pricing thoroughly researched for both buyer and same, no hard sale, professionalism from all members of staff exceptionally high, as was the photographer who took photographs of my property. I felt I could trust them, Victoria listened to personal concerns and was able to assuage fears drawing on years of personal experience. Quick to respond to queries on different communication platforms. They are a team to be strongly recommended. Sales team are extremely respectful, and were keen to find out as much about my property as they could. "

    Anne, Hampton October 2019
  • " I've dealt with some horrible agencies whilst renting in the past but I am glad we had Jezzards as our last. Didn't know that someone so professional and understanding and true to it's word existed in the business. I locked myself out once and they were there in  20 mins to assist. Heating stopped in the night and their out of hours assistance helped sort us out. Any problems or issues, were very promptly and effectively dealt with...I didn't even have to chase them. Our exit was quick, refunds took some time due to overlooked issues, which Victoria Jezzard looked into personally, and all done in 3 days. Dorathy was our handler and she was ace!! "

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    Anonymous September 2019
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    Astan August 2019
  • " Everybody at Jezzards Estate Agents, Surbiton was very patient and sympathetic to our needs as non-residents looking to buy in a completely new area. We were provided with maps and advised on the layout of the town and nearby areas. We would particularly like to thank Gaj Murali for showing us round various properties in the pouring rain and taking a personal interest in helping us find the right property. Thank you Gaj. "

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