Our Sales Advisor, James Moran, identifies five key factors that London prime property owners need to keep top of mind if you want to maximise the value of your home.
Sales in much of London have remained stubbornly flat over the last couple of years – dented by waves of global economic and political uncertainty. But there are always ways of drawing out value and maximising returns from good-quality property in a city that has been dubbed ‘The Capital of Capitals’. In the categories of ‘prosperity’, ‘lovability’ and ‘livability’, London has no equals.
1. Craftsmanship over tech.
Media rooms and smart lighting systems have featured heavily in residential property development in recent years, but if you want to enjoy your home now, whilst protecting future value, it is hard to beat high-quality craftsmanship. Bespoke cabinetry and joinery in kitchens, studies and dressing rooms are timeless, whilst embedded technology can age quickly and be difficult to address.
2. Take the plunge.
Health experts appear to be increasingly convinced of the benefits of saunas and cold plunges – and the same applies to canny property developers.
3. Make the summer last longer.
The more you can do to make your outdoor space, not just a garden, but an outdoor kitchen, dining and entertaining area, the better your chances of potential buyers queuing up. Pizza ovens, kamados (egg-style ovens), covered areas, outdoor heating, considered landscaping will always add value.
4. Give yourself permission.
If your property has the potential for extension or remodelling, it always pays to secure planning permission in advance of selling. While developer/buyers will always identify the potential themselves, they’ll be much more aggressive in their valuation of your property. Making the potential explicit, with outline drawings and planning permission in place, increases the appeal for private buyers.
5. Don’t forget the basics.
Don’t ever forget the importance of good presentation – whether that’s a big decluttering campaign ahead of viewings, or fresh flowers and ground coffee beans on the day. Make sure that the person accompanying viewings really understands the property and the location – what appealed to you originally – as well as potential for adaptation or improvement.