Which amenities will guarantee your home sale?
It might be time to check your local area as it may just boost your home’s value.
A recent report revealed that living near certain amenities could really affect your home’s value. Research suggests that having a leading supermarket near your home can seriously boost its value, while other reports have found that access to amenities was important for 54% of home movers, up from 39% in previous years. In fact, access to amenities is voted the third most important thing when choosing a home.
So which local amenities add the most value to your property?
Supermarkets
There is definitely a correlation between house price and proximity to a supermarket, however it is not clear which came first: do supermarkets move to areas where home values are higher, or does the build of a new supermarket push up the prices?
It has been reported that living near a Waitrose can increase your house value by £38,666, a huge 10% over the area’s national average. Budget supermarkets like Asda, Lidl and Aldi, however, add less to the value at £5,026, £3,926 and £1,333 respectively. This could however just be down to their choice of areas in which they choose to locate their stores.
Restaurants
Having a great high-street restaurant nearby can boost the value of your home dramatically and it seems the better the restaurant, the bigger boost to your property’s worth. Having a Michelin-starred restaurant on your doorstep can add up to 50% to the value.
Despite this, not all restaurants are good, being within walking distance of a McDonalds saw a dip of 24% in house prices compared to other homes in the area. Much like the supermarkets, this may be due to other factors (for example a McDonalds is often located near a main road) but it’s still worth considering.
Transport hubs
Access to transport was voted the 7th most important factor when looking for property, however transport hubs are a tricky one and their ability to boost your home’s value depends on the type of hub. Train access is generally very good, whilst airports, less so. The choice of transport is however personal, with many liking the access to motorways while others with international connections may also like a proximity to an airport, just as long as they’re not directly under the flight path.
Green Spaces
Parks and green spaces are also hugely popular among house hunters. Housing surveys show that outstanding countryside views are a top priority for people when moving house, followed by walking trails. Additionally, having a regional park within walking distance of your home can add between 1.9% and 2.9% to your total house value.
So, if you’re looking to sell your home, it may be worth turning your gaze outwards, and taking a look at what local amenities you should mention to potential buyers. By using a local, knowledgeable estate agent, you should find their experts useful in helping you decide what to mention (and what to leave out) to get the best value for your home.