Recent research reveals that… a new kitchen is king!
A new survey by Plentific.com reveals the most effective home improvements when influencing potential buyers. Top of the list is a new kitchen, influencing the decisions to offer as well as the amount involved.
Property Reporter reports that the most influential home improvements are:
1. Kitchen – a new kitchen would encourage 47% of buyers to offer, with 28% more likely to increase their offer because of this feature
2. Bathroom – 46% would consider the state of the bathroom, with 27% willing to offer a higher price
In addition, the following new features affect the final decision to buy:
3. Windows – 45%
4. Boiler – 43%
5. Extension – 34% (this feature would encourage 26% buyers make a higher offer)
6. Loft insulation – 33%
The bottom three new features that emerged from potential buyers’ feedback were:
7. Conservatory – 31% (although this feature would encourage 23% buyers to offer more money)
8. Garden landscaping – 29%
9. Lighting – 23%
Stephen Jury, spokesperson for Plentific, told Property Reporter: “Many property buyers keep an eye out for particular home renovations when searching for their next home. It goes without saying that costly renovations are high on the wish list for most buyers. These can add significant value to a property and incentivise buyers to offer a higher price. If a seller is looking to get a better offer, our insight could provide useful guidance on which home improvements to invest in."
Jason Dyer of JTM Homes explains: “It’s always tempting to replace or update property features when trying to attract serious buyers and good offers. Our team knows how your property compares to others on the market. We are always happy to offer professional, honest advice about whether home improvements will make a realistic difference to the speed and value of your sale.”
To find out more, talk to the friendly team at JTM Homes. With offices in both Highgate and Archway our advice reflects our expert knowledge of the north London property market.