Latest news with #homefeatures
Daily Mail
25-06-2025
- Business
- Daily Mail
Got air con or a south-facing garden? This is how much extra buyers will pay for your house in summer
As much as home buyers might try to keep a level head when viewing properties, superficial factors can have a huge impact on their perception. Estate agents might advise sellers to light a scented candle or bake some fresh bread, but the biggest influencer is out of their control: the weather. In the current sunny spell, walking into a property that is perfectly chilled with air conditioning, or has a glorious south-facing sun terrace, will inevitably put it higher in buyers' estimations. And in the winter, a roaring fire or Aga range cooker might generate the same feel-good factor. But how much do these features really add to the price of a home, and is it worth timing a sale to make the most of them? New research by Zoopla has revealed how much popular summer and winter features can boost a home's value. Its research found that a home with a home with a range of sought-after outdoor features like a nice garden, swimming pool, outdoor entertainment space and air conditioning would be worth around £22,000 more if sold during the summer months. The study was based on recommended asking prices from more than 100 estate agents from across the country. They were asked how much they would market homes with certain features for in the summer months, May to August, versus other times of the year. The experts based their valuations on a three bed property, which currently has a median asking price of £324,000. Individually, it said a south-facing or sunny garden could add 1.8 per cent or £5,832 to a home's value in summer. A balcony could add 1.24 per cent or £4,018, while air conditioning could persuade hot and bothered buyers to part with an extra £4,925 or 1.52 per cent of the average sale price. Swimming pools are divisive among buyers, as some see them as a recipe for sky-high energy bills and annoying upkeep. However, Zoopla found homes with pools could fetch an extra £5,897 or 1.82 per cent of the typical sale price in summer, while a hot tub would add about £2,819 or 0.87 per cent. On the other hand, buyers of homes with these features could get a bargain by snapping them up 'out of season' in the winter. Warm and cosy features which could see prices hot up in the latter part of the year include a fireplace, which could add £4,568 or 1.41 per cent to the average home's value, and under-floor heating which would command an additional £3,985 or 1.23 per cent. An Aga-style range cooker which could increase it by £3,337 or 1.03 per cent, though this is less than the cost of purchasing a new Aga which can be more than £10,000 for the top models. Good energy efficiency measures such as double glazing would add £3,402 or 1.05 per cent. Additional findings from a survey of 1,000 homeowners shows that 48 per cent would be prepared to pay more for a swimming pool if they were buying a home in the summer months, and 49 per cent would be persuaded to part with more cash for a home with a nice garden. Meanwhile a similar number (49 per cent) would be prepared to pay extra for a house with air conditioning. Likewise in winter, 38 per cent say they would be prepared to pay more for a home with a traditional fireplace, 41 per cent would pay more for a home with good energy efficiency and 26 per cent would pay more for an Aga-style range cooker. Daniel Copley, consumer expert at Zoopla, said: 'The research clearly demonstrates that homebuyers are swayed by the season, and in some cases, certain features can help sellers achieve more for their home. 'While it is human nature to be drawn to features like a stunning garden or cool pool in summer, or underfloor heating during winter, homebuyers should bear in mind that they will also face ongoing running costs for these items, especially with regards to energy usage. Buyers should therefore factor this into their budget.' Amongst home-buyers who purchased during spring or summer, two thirds (65 per cent) say they were drawn to seasonal features, compared to 47 per cent of those that bought in winter. Of those, the vast majority (85 per cent) say they feel they paid more for the home as a result. How to find a new mortgage Borrowers who need a mortgage because their current fixed rate deal is ending, or they are buying a home, should explore their options as soon as possible. Buy-to-let landlords should also act as soon as they can. Quick mortgage finder links with This is Money's partner L&C > Mortgage rates calculator > Find the right mortgage for you What if I need to remortgage? Borrowers should compare rates, speak to a mortgage broker and be prepared to act. Homeowners can lock in to a new deal six to nine months in advance, often with no obligation to take it. Most mortgage deals allow fees to be added to the loan and only be charged when it is taken out. This means borrowers can secure a rate without paying expensive arrangement fees. Keep in mind that by doing this and not clearing the fee on completion, interest will be paid on the fee amount over the entire term of the loan, so this may not be the best option for everyone. What if I am buying a home? Those with home purchases agreed should also aim to secure rates as soon as possible, so they know exactly what their monthly payments will be. Buyers should avoid overstretching and be aware that house prices may fall, as higher mortgage rates limit people's borrowing ability and buying power. What about buy-to-let landlords Buy-to-let landlords with interest-only mortgages will see a greater jump in monthly costs than homeowners on residential mortgages. This makes remortgaging in plenty of time essential and our partner L&C can help with buy-to-let mortgages too. How to compare mortgage costs The best way to compare mortgage costs and find the right deal for you is to speak to a broker. This is Money has a long-standing partnership with fee-free broker L&C, to provide you with fee-free expert mortgage advice. Interested in seeing today's best mortgage rates? Use This is Money and L&Cs best mortgage rates calculator to show deals matching your home value, mortgage size, term and fixed rate needs. If you're ready to find your next mortgage, why not use L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you. > Find your best mortgage deal with This is Money and L&C Be aware that rates can change quickly, however, and so if you need a mortgage or want to compare rates, speak to L&C as soon as possible, so they can help you find the right mortgage for you.
The Independent
25-06-2025
- Business
- The Independent
Estate agents share features that increase a home's value
A new study by property portal Zoopla suggests that specific home features can significantly increase a property's value, especially when sold during certain seasons. During summer, a sunny or south-facing garden can add an average of £5,832 to a three-bedroom home, while a swimming pool could add £5,897. Other features that boost summer sales include balconies, hot tubs, and air conditioning, according to insights from over 100 UK estate agents. In winter, features like traditional fireplaces (£4,568), under-floor heating (£3,985), and energy efficiency measures (£3,402) can enhance a property's value. Experts advise sellers to seek tailored advice from estate agents, as the added value depends on factors like location and local demand, and buyers might find better deals out of season.
The Independent
24-06-2025
- Business
- The Independent
Estate agents reveal features that could ‘add thousands' to a home's value
House sellers may be able to get thousands of pounds more for their property in the summer if it boasts certain features, research suggests. The study, commissioned by Zoopla, also indicated that buyers may also be able to bag a bargain by purchasing a home with particular features 'out of season'. The research – based on recommended asking prices from more than 100 UK estate agents – asked how much they would market homes with certain features between May and August, versus other times of the year. Property experts based their valuations on a three-bedroom property, with an average UK asking price of £324,000. The research indicates that a south-facing or sunny garden could add an extra £5,832 to the average price of a three-bedroom property. A balcony could potentially add £4,018 if sold in summer compared with other seasons, the research indicates. Swimming pools and hot tubs could also potentially add value. Professionals estimated that a pool could add an additional £5,897 on average if selling in summer, while a hot tub could add £2,819, typically. Air conditioning could add about £4,925 if a property was sold in summer, agents estimated. Many features also add value in winter, Zoopla's research suggests. Agents estimated that a traditional, wood-burning fireplace adds £4,568 if a property is sold in winter, while a range style cooker could add £3,337, on average. Under-floor heating would command an additional £3,985 on average and energy efficiency measures, such as double glazing, could add £3,402, it was estimated. How much a feature could add to a property's value will depend on individual circumstances, such as where it is located in the UK, how popular the local area is with buyers, and the desirability of other features in the house. Daniel Copley, consumer expert at Zoopla, said: 'The research clearly demonstrates that home buyers are swayed by the season and, in some cases, certain features can help sellers achieve more for their home.' He added: 'While it is human nature to be drawn to features like a stunning garden, or cool pool in summer, or under floor heating during winter, home buyers should bear in mind that they will also face ongoing running costs for these items, especially with regards to energy usage. Buyers should therefore factor this into their budget. 'All homes differ, so sellers should get bespoke advice from an estate agent, who will be able to advise if their home might be more desirable and command a higher asking price during summer.' Claire Carter, country house associate director at John D Wood & Co said: 'The country house market has always had a natural rhythm with the seasons – not just in terms of features, but location too. 'Coastal homes in particular look their best when the sun is shining and the same goes for swimming pools and tennis courts. It's not necessarily the case that features add value, but they become more emotionally compelling – a roaring fire on a cold winter's day or a glorious garden in summer can absolutely tip a buyer's decision. 'The time of year matters hugely for presentation, for example, a house photographed in January looks completely different by May. When selling in winter, I always encourage my clients to light the fire and turn on the under floor heating because nobody wants to feel chilly on a viewing. During summer, it is all about showing the house in its element with blooming gardens, blue skies, and sun-dappled terraces. 'I'm also seeing growing demand for natural swimming ponds or lakes, which tend to hold their appeal year-round. Buyers are increasingly aware of the health benefits – they're better for the environment, chemical-free, and fit more naturally with the landscape. 'Unlike a traditional pool, which feels seasonal, a well-designed swimming lake can feel like part of the countryside, being usable in summer and beautiful even in winter. Ultimately, selling a country house is about capturing the imagination of buyers and helping them to imagine their life there, whatever the season.' The estate agents research was carried out by Mortar Research in June. A survey of 1,000 homeowners by Mortar Research in June also found that nearly half (47%) paid more for a property due to the time of year they purchased their home – estimating the extra spend to be £27,000 on average. However, many hope to reap the rewards in the future, with 71% believing their home would be more desirable if they listed it at the right time of the year.
News.com.au
04-06-2025
- Business
- News.com.au
Simple reason Aussies refusing to downsize for city
Australians are clinging to their laundries, spare rooms and car spots — even if it means ditching city life — in a defiant rejection of the downsizing dream. New research from Compare the Market reveals just 18.8 per cent of Australians would sacrifice space to live closer to the CBD, while a staggering 71.3 per cent either won't downsize or have no desire to live in the city at all. But while most of the nation is holding onto space, property experts say buyers are increasingly flipping the script. Compare the Market's general manager of money Stephen Zeller said Australians were drawing clear lines around which home features they would and wouldn't compromise on — and it wasn't what you might expect. 'Knowing which home amenities you definitely want and which you're willing to compromise on can help you narrow down which properties are right for you,' Mr Zeller said. 'Using comparison tools can also help you find a competitive interest rate on offer.' Laundries topped the list of non-negotiables, with 50 per cent of Australians saying they would not give them up — followed by car park spaces, 38.9 per cent, garages, 34.7 per cent, and spare rooms, 30 per cent. Buyers were most willing to ditch pools, 57.9 per cent, garden sheds, 42.1 per cent, and backyards, 35.8 per cent, to get closer to the city. Melbourne based buyers advocate Cate Bakos said the national data came as a surprise, because her clients are increasingly choosing location over space. 'That actually surprised me — because I'm seeing the opposite,' Ms Bakos said. 'People are much more willing to give up space to be close to cafes, culture and lifestyle. 'They want to be where the action is.' Ms Bakos said many buyers had moved away from car ownership entirely, opting for public transport, ride-share services and car share schemes. 'They'd rather save that cost and use the money elsewhere,' she said. 'The focus has shifted to experiences, lifestyle and social connectivity.' But the buyers agent said one feature remains a deal-breaker for many buyers: 'Move-in readiness. Buyers are not interested in renovators right now,' Ms Bakos said. 'The builder shortage and renovation costs have turned people off. 'A turnkey home is gold.' Ms Bakos added that confidence was being driven by major infrastructure upgrades, particularly Melbourne's $15bn Metro Tunnel, set to reshape commuting when it opens later this year. 'It's the kind of change buyers will feel in their daily commute,' she said. 'It builds confidence and convenience.' 'The Suburban Rail Loop might be the long game, but right now, the Metro Tunnel is what people are excited about.' McGrath Wynnum-Manly principal Gaby McEwan said buyers, particularly in Brisbane were still chasing space, but not for land size alone. 'It's not necessarily about acreage. It's about a change in pace,' Ms McEwan said. 'They want a backyard, a garden, a safer community and access to the water.' Ms McEwan said a growing number of young families were selling up in Brisbane inner-city pockets like Newstead and West End to secure lifestyle homes in seaside suburbs such as Wynnum and Manly. 'They're not just trading sideways,' she said. 'In some cases, they're paying more for a smaller block, just to live near the water. 'The Esplanade used to be quiet. Now it's buzzing. People discovered it during lockdowns and never left.' The McGrath Wynnum-Manly principal said even basic homes are being snapped up by buyers keen to get into the suburb. 'We recently sold one for $925,000, it was full of asbestos and hadn't been touched in decades,' Ms McEwan said. 'But it was on a great street, and the buyers were happy to renovate just to get in.' Ms McEwan said a wave of locals who grew up in the area were now returning after years of inner-city living. 'They've seen the value of their units go up, and now they're either selling or holding and buying again here,' she said. 'It's a smart move, and once they're back, they never want to leave.' State-by-state: Who's least willing to compromise? Victorians were the most attached to their laundries, with 53.2 per cent unwilling to give them up. Queenslanders were more open to ditching the backyard, 38.5 per cent, and only 10.9 per cent were willing to lose a laundry. New South Wales came in close to the national average, but Sydneysiders showed slightly greater willingness to downsize for location. South Australians were most attached to having a garage, with 42.9 per cent unwilling to let it go.
