There are countless different factors that affect the value of your home. From the size to the location, the price will depend on a range of issues – but what you may not know is that there are several less obvious features that can increase, or even decrease, your property’s value.
These overlooked factors range from the weird to the downright wonderful, and although many of these are sometimes out of your control, they are still worth knowing. Here are 10 extraordinary features that could affect the value of your property.
1. Your address can affect the value of your home
The last thing on your mind when thinking about the value of your property may be your address, but funnily enough, this can have a drastic effect on your home’s value.
Apparently, Brits prefer living on streets with “Warren” in the address, with properties on these streets typically valued more than double the national average.
If you live high up, then you’re in luck as “Hill” is another popular street name. Properties with this address are typically valued at more than double that of a similar home with “street” in the address.
And, even stranger, properties on streets with “funny” addresses seem to be valued higher than those that aren’t. Indeed, GoodMove reports that houses located on “Willey Lane” in Nottingham are priced a staggering 88% higher than other similar houses nearby.
2. The “Waitrose Effect”
Everyone loves convenience, so it may come as little surprise that having a nice, local supermarket nearby can affect the value of your property.
The “Waitrose Effect”, as it is commonly called, has proven that having a local upmarket grocery store near your property can increase its value by around 9%.
While Waitrose and other high-end supermarkets push housing prices up the most, by nearly £40,000 in some instances, even other supermarkets can drive up the value of your property.
The Express reports that even a nearby Aldi can influence the value of your home, increasing prices by around £5,000 in some cases.
3. Bodies of water, especially those with fishing rights, can help
This may be slightly rarer, but if your property is situated near a body of water with fishing rights, chances are this will affect the value of your home.
Living next to bodies of water is usually going to positively affect a property’s value, but if you manage to obtain fishing rights for the property, then you’re really in the money.
Indeed, living near a nice body of water that has obtainable fishing rights can drive up the value of your property by around 15%.
Even if you can’t get fishing rights for your property, odds are that living next to a lovely body of water will create gorgeous scenery, which could in turn push up the property’s value.
4. A parking space can also increase your property’s value
One thing many people may overlook when deciding on a home is a parking space, and whether you drive or not, it’s worth knowing how much this can influence the value of your property.
Parking can become a massive issue in some areas – some councils are even introducing more restrictions that make it harder to park on residential streets. So, it’s no wonder that having a parking space on the property can dramatically affect its value.
In fact, many house developers are taking this into account when they build new properties, as estate agent Petty Son and Prestwich reports that having a parking space can increase a property’s value by as much as 13%.
5. A nice local pub nearby can boost your home’s value
It’s a well-known fact that Brits love a trip to the pub. So, you may have guessed that having a nice local pub nearby can do wonders for a property’s value.
You may think that living next to a pub would be a nightmare – the first thing that likely comes to mind is loud, slightly drunk patrons stumbling home during the early hours of the morning.
However, it all comes down to the type of pub you have nearby. A nice, upmarket gastropub within walking distance of your home could have a positive effect on its value.
6. A blue plaque can bring some celebrity allure to your property
Blue plaques serve as historical markers to inform passers-by of a famous person’s connection with a building. So, you may not be shocked to hear that having one on your property will typically increase its value.
In fact, a study titled ‘Effects of celebrity occupancy on property values’ found that the installation of a blue plaque increased the value of properties in London by around 27%.
So, along with the excitement that may come with knowing you’re living in the same building a celebrity once lived, it also seems the magic of celebrities can influence property values.
7. Your house number can have a strange effect
Now, this may be one of the strangest things on this list. You may not believe it, but your house number can have an impact on the value of your home.
Indeed, research reported by Property Reporter shows that odd-numbered houses are typically worth £30,258 more than those that are even-numbered.
And, even more strangely, the number 13 was one of the UK’s favourite house numbers, typically selling for £15,075 more than the number one, which was the UK’s most frequently sold house number.
So, while it may be an unlucky number for some, property with the number 13 could be the exact opposite for others.
8. Tree-lined streets make your property more attractive
Having trees flourishing on your street can also increase the value of your property.
It isn’t just your home’s value that is affected by having tree-lined streets though – luscious green vegetation nearby could also make the community generally more beautiful.
If you don’t have trees on your street, then never fear, as you may be able to get some planted. There are several services, such as the aptly named Trees for Streets, that will contact your local council for you and try to get some greenery planted on your street.
9. Unusual appliances may interest potential buyers
The value of your property can also be influenced by a variety of weird and wonderful home appliances.
For example, the Express reports that having a pizza oven in your garden could potentially increase your home’s value by as much as 26%.
Or, if you’re more of a wine aficionado, you could have a wine fridge installed, which can also positively affect the value of your home.
10. Harness the power of the sun
This may be less surprising than some of the other things on this list, but solar panels can also increase the value of a property.
With environmental issues at the forefront of the public’s mind as of late, it’s no wonder we are more eager to generate electricity in an eco-friendly way.
One thing to keep in mind is that installing solar panels just before moving house may not be the best way to increase your old home’s value. Indeed, Money Saving Expert states that it typically takes around 14 years to recoup the cost of installation.
However, the above article also reports that homeowners with solar panels would see their property value typically increase by around £1,800. So, if you’ve had your solar panels for a few years now, this could help you claw back some of the installation fees.
Get in touch
Some of the above features, such as blue plaques, can be near-impossible to install, but if you still want to discuss other ways you can increase your property’s value before selling it, please get in touch.
Email enquire@london-money.co.uk or call (0207) 808 4120 to find out more.