If you’re a property developer, making a good return is likely to be your main focus. The easiest way to achieve this is to add features to the property that appeal directly to your target market – which drives its value up and creates competition among your buyers.
If you’re investing in property in the UK and are considering developing a house, here’s some of the best improvements to make to secure a good profit.
The Key Improvements that Add Value
- Frameless showers. The bathroom is a key area that buyers focus on, and a frameless shower creates a modern, high-end look that appeals particularly to young professionals. Zillow Digs discovered that, on average, homes with frameless showers sold 38 days quicker than their standard shower counterparts.
- Breakfast areas. Even small kitchens generally offer some potential to create a breakfast area, even if it’s just a bar with two stools underneath. This makes the kitchen more multifunctional, which appeals considerably to buyers.
- Good lighting. If lighting is too bright, it can make a house feel cold, which will deter buyers. Lamp-lights and wall-lighting is popular at present, and sophisticated pendant lights can boost prices by as much as 4.6% above the average expected values.
- Period features. Period features remain perennially popular with home-buyers. When investing in property in the UK, look for houses with period features still intact. However, don’t be put off by homes that have had all features removed. It’s easy to pick up a Victorian fireplace in a reclamation yard and install it yourself.
- Exposed brickwork. Exposed brickwork continues to be popular with buyers across the UK, and it’s a very easy effect to create the effect, providing the walls are suitable. Exposed brickwork features can make a house sell 39 days quicker than average.
- Farmhouse kitchens. Rustic farmhouse-style kitchens never seem to go out of fashion, and shaker-style cupboards, ceramic sinks and barn-doors still remain highly desirable. Zillow found that barn-doors alone can boost a property price by as much as 13.4% on average.
- Open-plan. Families in particular are drawn to open-plan layouts, as they’re ideal for younger children. Home-buyers who like socialising often prefer open-plan too – which is why it’s worth considering opening up the living space in the property to appeal to a wider market.
- Attractive outdoor area. Although the UK doesn’t enjoy much sun, having a useable, pleasant outdoor space is still a big priority for many home-buyers. Ideally, create separate zones for eating, playing, cooking on a BBQ and planting flowers or plants – buyers like to see the full potential of the space.
- Heated floors. A touch of luxury, such as a heated floor, gives the impression that the rest of the house is similarly high-end – which can boost the value of your property. Zillow found that heated floors made houses sell, on average, 28 days faster.
- Flexible space. Additionally, buyers like to see areas that can be adapted to their personal needs – for example, a conservatory that could be used as a breakfast room or playroom; or even a landing that could accommodate a desk.
Property Investment in the UK – The Buy2Let Shop Limited
If you’re considering investing in property in the UK, and you’d like assistance locating the right house at the right price, talk to The Buy2Let Shop today.
We’ve got a wide range of properties on our books that aren’t currently available on the general market, and we also offer help with buying a house at auction. For more information, simply get in touch with the team via The Buy2Let Shop website.