Without appointing a property advisor, finding your dream home can seem daunting. It’s not just about the house itself but also its location and amenities. Adding to the mix, considering the potential return on investment adds an extra layer of appeal, especially if it came with a hefty price tag. Yahoo Finance offers insights into what to prioritise and what pitfalls to steer clear of…
Location
Its no surprise the first and foremost factor to consider is where your house is located. “A prime location consistently surpasses the benefits of renovations. If the area isn’t appealing, then no amount of financial investment or renovation will change that”, states Oliver Sanhaji, North & East London advisor.
Period features
Although older properties may not be as energy-efficient, there’s still a strong demand for period features in homes, with many paying a premium to install them “If a property has undergone renovations that involve removing period features, such as cornices, fireplaces or original shutters, restoring these features can result in a significant return on investment”.
Energy inefficient homes
Given the government are planning to introduce a minimum EPC rating of C in all rental homes by 2028, homeowners are seeking new, innovative ways to maintain their home in efficient and environmentally friendly ways. “Buyers are seeking eco-friendly alternatives over less sustainable materials, like AGA stoves, poorly installed windows or outdated heating systems,” says Sanhaji.
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