Six property updates to add value to your luxury home
As house prices continue to rise, the UK property market remains vibrant. According to the Office for National Statistics, an average house is now worth £ 266.00 after an increase of 13.2%, the fastest rise in 17 years.
The pandemic has had a direct impact on the UK property market. In 2020, around 5.6 million people worked from home in the UK, an increase of 1.69 million from 1998.
Remote working has led people to rethink and adapt their lifestyles to their working from home lifestyles.
Homes that provide a more enjoyable and professional work-from-home environment have exploded in value and that’s why sellers should consider upgrades that add value.
The benefits of investing in your property are twofold. First of all, you can really put your stamp on your home and inject personality into an otherwise normal regular property.
Second, you add value by upgrading your home to make it more attractive to potential buyers. Real estate investments don’t just include fitting out, painting or decorating a guest room; it can also include elevating your property through luxury interior and exterior design features.
The Luxury Property Show, the European event for luxury real estate, has selected six of the best home improvements to make your property stand out in the market. Here are six unique ways to add value to your luxury home before you sell …
A garden office
If your property has space, a garden office overlooking the flower beds can really increase the value.
Garden office space is also a great choice for properties that would be cramped including indoor working space.
A smart, well-insulated, moisture-resistant, and beautiful building with electricity and maybe even plumbing is a great way to make your property more attractive.
A swim ming pool in a house that accepts animals and wildlife
The lockdown has encouraged many homeowners to rethink their gardens to be both more self-pleasing and more wildlife-friendly.
A professionally designed swimming pool or pond will add value, inspire calm, and encourage wildlife including birds, hedgehogs and even deer in your yard.
If you are one of the 3.2 million households that have acquired a “locked pet,” you will know the challenges of owning a pet. Simple upgrades like a smart cat flap that only opens for your own microchip cat make it easier to house a pet. A cleaning station where you can wash a dog after a muddy walk will be much nicer than the garden hose – for both of you.
Turn your basement into a wine cellar
The dedicated oenophile can invest in a commercial grade wine cooler. If space is not an issue, a smartly designed, specially designed and air conditioned wine cellar will definitely add value to a home.
A wine cellar is particularly suited to homes designed for entertaining, filled with large dining rooms and gardens with high-end terraces and pergolas.
A wine cellar also offers spectacular and exciting storage potential. Combining traditional oak with glass and soft lighting can look upscale and very classy. If you’re lacking inspiration but love wine, take a few wine tours to collect ideas for your wine project.
Install a walk-in closet
Nothing says “you did it” like stepping into your own wardrobe, to see your clothes beautifully presented rather than stuffed into drawers. A walk-in closet draws attention to your property. It is also likely to appeal to the female buyer – traditionally the final decision maker in property purchases.
Recent research has also revealed that it can add over £ 100,000 to the price of your property, so consider this one of your pre-sale improvements.
A beautiful bathroom with traditional or contemporary improvements
Meghan Markle’s £ 5,000 copper tub was a distinct nod to the traditional, as were the cascading showers and wet rooms. A damp room, especially an upstairs room, requires the highest quality equipment and will normally add between 20% and 30% to the price of your home.
You can use high or low technology, depending on your level of comfort using the technology. After the pandemic, it’s all about touchless technology, with digital faucets, toilet seats and self-cleaning facilities all receiving high-tech treatment.
Mood lights created by a “color therapist” or a waterproof TV built into the tiles are also great ways to add a wow factor to your home.
Install or upgrade security
A modern security system must be able to prevent burglaries. Cameras will allow you to keep an eye on your property, as well as thermal imaging technology that recognizes the difference between a badger and a burglar.
The weak link in a burglary will often be your wish to protect loved ones, which is why many wealthy homeowners want a safe room, also known as a panic room. Making a room in your home safe from the entrance while still being comfortable to use can be relatively inexpensive, with reinforced walls and doors. A hidden panic room, undetectable unless you know it’s there, can easily cost £ 100,000.
If you are considering selling your home, talk to your specialist real estate agent about the type of upgrade that will raise the asking price more than it costs. If you plan to live there for a few more years, why not have fun and enjoy the property while increasing the value.
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