According to research by the Royal Institute for Chartered Surveyors (RICS) and the BBC, the quickest way to attract buyers and increase market equity is to add a conservatory to a property.
According to the RICS, conservatories add 5% to the value of a property, but for buyers, the presence of a conservatory signifies that they are not simply buying a house, but a home. In times of recession when the housing market has stagnated, it seems that the addition of a conservatory is welcome news to homeowners looking to sell their property as well as buyers looking to move into it.
Research carried out by the BBC indicates that the average house price in the UK is currently £249,958. If building a conservatory adds 5% to its value, that’s an additional £12,500 owners can legitimately add to the selling price. Buyers who are new to the housing market and are stepping onto, or up the property ladder have a more difficult time than most. For them, the presence of a conservatory can make the difference between committing their hard earned money to a property, or not. The additional cost of a property seems of less concern to the buyer when considering that with a conservatory, they are getting additional space, extra light, access to the garden and a property they can live in, or grow into for a considerable amount of time. This is where the attraction of a well maintained conservatory comes into its own and why their value is so much more than financial.
A conservatory should be an extension of the home, be insulated, be well positioned to receive light, have access to outside areas, neutrally decorated and afford residents privacy from the outside world. One of the most effective methods of achieving all of this is to install conservatory blinds.
For property owners who’ve been trying to sell their home without success or are looking to gain additional space, it’s worth considering the findings of the RICS and the BBC. This a great time of year to investigate the possibilities and costs; many suppliers have seasonal discounts and any necessary work can be carried out during the winter when the housing market is traditionally at its quietest, putting property sellers in a strong position when the market picks up in the new year.