Bake off Britain – Why your kitchen needs to lead the way
Over the years you may have read in the newspaper property supplements that the kitchen is our favourite room of the home and that its appeal – or lack of – could have a significant impact on an eventual property sale.
Thanks to the success of TV shows like The Great British Bake Off – which has just returned to our screens for its sixth series – as well as those paying close attention to celebrity chefs’ state-of-the-art culinary spaces, many prospective buyers are placing high value on kitchens, envisaging how they can mastermind their own baking success after purchasing a new home.
This month a new study, carried out by nascent property portal OnTheMarket.com, has backed up the kitchen theory with feedback from over 500 estate agents.
In the survey of agents, some 28% said a modern kitchen was the one feature most likely to prove attractive to prospective buyers.
It is widely believed that a modern kitchen could add up to as much as £50,000 to the value of a property, while the average value added is closer to the £5,000 mark, depending on the property’s overall value and size.
If you’re thinking about letting your property and becoming a landlord it seems kitchens also hold a lot of sway with prospective tenants. According to 36% of letting agents, a modern kitchen is most desirable to potential tenants. This is followed by off-street parking, which 18% of agents surveyed said was the most desirable.
Other features which came out favourably when it comes to property sales were access to off-street parking and a back garden, cited by 23% and 14% of agents respectively.
OnTheMarket’s report suggests that off-street parking can add between 10% and 15% to a property’s value, while the majority of agents surveyed agreed that depending on its size, a back garden can add up to £20,000 to a home’s sale price.
Also seen as desirable among the UK’s property buying community were the facility of an en-suite bathroom in the master bedroom, neutrally painted walls, fast internet connection, a front garden, a conservatory and real wooden floors.
The overarching message from all of this is that when selling your home, you need to highlight the features that buyers find most desirable. Choosing the right estate agent to market your property will help get it in front of the right audience and here at Mishon Mackay we are always on hand to offer advice on how to sell your property in Brighton, Hove and the surrounding areas.
To find out how much your property could be worth on today’s market, you can use our instant online valuation tool and to see part of how we would market your property, you can see all of our listings on OnTheMarket here.
For more information on buying and selling property, please get in touch with Marc Cox on: 01273 416732.