Property is an extremely expensive investment with the average house price in the UK being around £250,000. However there are many factors that inf
Property is an extremely expensive investment with the average house price in the UK being around £250,000. However there are many factors that influence house prices including number of bedrooms, bathrooms and the size of the home. One sought after feature that could add thousands onto the value of a home has been shared with Express.co.uk by property experts.
Having an outside space like a garden may be normal for some but in the UK, homebuyers will actually pay a premium for a home that has a garden.
According to Yes Homebuyers, having a home with a garden sells for £12,000 more than those without.
This means homebuyers will pay a premium of five percent to get a home with a garden, even if it is small.
For a well kept or newly renovated garden an additional 1.4 percent would be added to the current average property price.
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For the UK this is another £3,300 paid for a landscaped garden no matter the size of it.
Matthew Cooper, Founder & Managing Director of Yes Homebuyers said: “A garden has always been a sought after feature for second and third rung homebuyers, in particular, and as a result properties complete with private outdoor space will attract a healthy premium in contrast to those without.
“After months spent in lockdown due to the current pandemic, buyers are now prioritising the quality of their home life over other traditional factors such as location in anticipation of a second wave and future restrictions, with a garden playing a big part in boosting this wellbeing.
“Current low mortgage rates and the current stamp duty saving on offer are allowing many buyers to stretch that little bit further and for most, this means buying a bigger home with the additional benefits of garden space.
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“As a result, demand for garden homes has soared and the price premiums paid are likely to follow the same trajectory over the coming months, which is great news for sellers with garden space.”
The average house price in Scotland is £154,648 but this could increase by around £10,000 with a tidy and landscaped garden taking the property price up to £180,559.
In the East of England wanting a garden could cost an extra £15,000 whilst in the North East it could cost homebuyers an extra £6,000 for the luxury of an outside space.
Searches by buyers for homes with gardens on property searching site Rightmove were up 42 percent in May compared with the same month last year.
Those searches also increased by 84 percent for those renting homes in the UK.
Resident property expert Miles Shipside at Rightmove suggests that gardens are now one of the most sought-after features in a home.
He explains: “People are now re-evaluating what their must-haves are after ten weeks of staying at home.
“Usually home-movers tell us the kitchen photographs are the most important when they’re looking at a property advert, but now agents should consider giving greater prominence to pictures of gardens and outdoor spaces to attract the attention of prospective renters and buyers.”
Rightmove surveyed 4,000 home-movers and many said that their new life interests included outdoor activities like exercising, gardening and reading outside.
This has stemmed from many spending more time outdoors in lockdown but doing up a garden doesn’t always have to involve landscaping which can come at a hefty cost.
Miles adds: “To add to the photogenic garden appeal, a quick lick of paint on a fence, or a clear out of a shed to show how it could be a lovely summer house, can make all the difference when selling a lifestyle to a would-be buyer or tenant.
“Communal gardens sometimes get left out of rental listings but they should definitely be including them now too.”
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