The Resale Value of Good House Design
Have you ever wondered why some houses sell for a higher price than a similar property in the same street or subdivision? Here are a few thoughts that may explain why.
There are several factors that contribute to a home’s appeal that aren’t always immediately quantifiable – orientation, design that maximises natural light, pleasing proportions and other factors that contribute to market appeal. For example, there are two identical homes, but the living area of one home faces north and the other south? Given that more buyers write ‘north-facing’ on their wish list, the north-facing property is surely more saleable (therefore worth more) than the south-facing one. All the same, the owners of the south-facing one probably think that their home has the same features and of course value as the one that buyers prefer.
Elusive appeal is also likely to be a function of the original design concept of the house. After all, it is not uncommon for homeowners to “save” money at the planning stage of building or extensions. They achieve the measurable features they were after but not the elusive ‘wow’ factor. Good design, especially the skilful use of natural light, window placement and correct orientation on the land adds something you can recognise but can’t always define. Many people add on, or make minor changes as the need arises without taking a holistic view of their property. They think in terms of immediate solutions to particular problems (need large fourth bedroom with ensuite to become master bedroom) rather than conceptualising the impact of the house as a whole (small living area and kitchen means scale of property is out of balance).
Home owners who want to save money should be aware that skimping on planning and design could mean that the house never reaches its full potential in terms of re-sale value, no matter how impressive its features.
The kind of appeal that makes buyers go ‘wow’ can also come simply from regular maintenance and attention to detail in the presentation of the property. A house that looks loved and cared for is shown to its best advantage, yet it may be identical in most other respects to a less popular property in the neighbourhood.
If you are thinking of selling your home or want more information on the Upper Hutt property market please call me on the numbers below or contact me via email firstname.lastname@example.org alternately fill in your details here on my website.
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