The UK housing market is stagnant, and the average home takes 59 days to sell, while more than half of properties are on sale for more than 10 months, according to Goodmove. But three simple features could make your home sell faster.
The old tropes about a new bathroom and kitchen aren’t always true anymore. Some buyers want to put their own stamp on those deeply personal rooms, and the installation cost means you don’t get the ROI you used to. The idea here is to get the eye-catching features without the eye-watering costs that can go with major renovations.
So, what are the three killer features that will help your home fly off the proverbial shelf?
1. High EPC Rating
We live in an increasingly environmentally conscious world, and the UK is experiencing a cost-of-living crisis. Combined, these two factors mean that a solid EPC rating is a key factor when it comes to selling your home and can make a major difference to the asking price when you get a valuation for your home.
According to Goodmove, 12.6% of all homes with an EPC rating of C had a buyer within a month. The Mortgage Advice Bureau revealed that 61% of buyers are more inclined to make an offer on a property with a high EPC rating. A Santander study in 2022 showed that buyers are willing to pay a ‘green premium’ of 9.4% for houses that have been retrofitted for energy efficiency, and it doesn’t have to cost the Earth to do so.
Simply adding loft insulation can boost your EPC rating by 10-16 points and up to two bands on your rating. With the average cost ranging from £300 for a mid-terraced house to £1200 for a larger detached property, this could be a sound investment.
Other low-cost options to boost your EPC rating include a condensing boiler, a smart thermostat, pipe insulation, and fitting energy-efficient appliances. These will all boost your home’s value and help it sell faster.
2. Breakfast Bar
You might not think so, but a breakfast bar is one of the most desirable features that house hunters look for. Estate agent Yopa showed that 13.6% of homes with a breakfast bar found a buyer within a month.
Open plan kitchens are more than a trend: they’re guaranteed to boost interest in your home, and a breakfast bar acts as a natural divider between the kitchen and living area.
They are also versatile, as they can double up as an informal dining area or a workspace for the increasing number of people who work from home. A study by online sales platform Well-presented kitchen can boost a home’s sale price by 5-10% and it will help you sell your home faster.
Installing a breakfast bar can cost as little as £200, so it’s a worthwhile investment if you want to sell your home in a tough climate.
3. Kitchen Island
This gets more involved, as a kitchen island normally goes with a complete renovation, but you can add one in isolation to boost your home’s appeal. If you do, it’s worth noting that 12.6% of homes with a kitchen island received an offer within a month.
Crunching the numbers is important before you go to town with a total kitchen renovation. A well-done renovation can add 4-10% to the price of your home, but if you go too far with the work, this can easily cost you money. You also have to be careful with the size of the island. If you go too far and make it too big, it can overwhelm the kitchen and actually deter buyers.
The breakfast bar is a far more sensible option if you’re looking for the broadest audience, the lowest investment, and a quick sale. But if you’re really looking for the wow factor to sell your high-end home, a well-thought-out kitchen island could help you sell your property faster and for a higher price.
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