Buyers Pay More for a Home with a View, The Most Valuable and Popular Home Improvements, Plus More

The Buy to Let Market is Set to Offer Lucrative Opportunities in the Years to Come

 

 

It's good news for property investors over the coming years, according to predictions from the Centre for Economics and Business Research (CEBR).

It has been suggested by CEBR that although there may be some turbulent times ahead, the buy to let market will still present investors with lucrative opportunities.

The CEBR claim that although many landlords have seen the effects of recent changes such as the rise of stamp duty and changes to tax regulations for landlords, it is believed that due to the continuing rise in both house prices and rental rates, the market will remain robust and continue to be a profitable option for both lenders and investors.

Forecasts from the CEBR suggest that landlords could see a slight fall in yields due to house prices rising at a faster pace than rental rates, with predictions of overall yields at an average of 3.5% in 2027.

In addition to this, it is expected that across the next 10 years the number of UK homes within the private rented sector will rise by 7% to 28%, meaning almost a third of homes in 2027 will be rental properties as the demand for rental accommodation only continues to grow.

Over the past year, many investors have taken a look at their portfolio due to their concern surrounding the economy following the Brexit decision and more recently the election. However, many property experts believe that while the market isn’t bulletproof, the current lack of supply will keep the property prices stable.

A Room With a View Adds Nearly 30% to a Property's Price Tag

 

 

It appears that house hunters in the UK are prepared to pay considerably more for a house with a beautiful view located in a major town or city.

According to new research from HouseSimple, buyers are willing to pay an additional 30% for a nice view, which on average, adds approximately &78,400 to the price tag of the home.

The research found that in large urban areas where public green spaces are quite scarce, such as Sheffield, Liverpool, Cardiff, Glasgow and Middlesbrough, a great view can almost double the price of the home.

Properties that featured a view of Sheffield’s popular Endcliffe Park, were valued at a massive 121% higher than the city average. Similar statistics were seen in Liverpool, as homes with a view of Sefton Park saw property prices that were 112% higher than the city average.

Also, as expected, greenery in the country’s capital fetches a high price, with properties with a view of Hyde Park selling for 97% higher than the London average.

Although there were some areas throughout the UK in which being close to a major park had little to no effect on the price of the home, it’s clear that for most buyers, it seems to be near the top of their wishlist.

These stats come as no surprise as only last month it was reported just how essential a bit of greenery is for home buyers, with almost half of them stating that they wouldn’t even consider a home that didn’t feature a garden.

CEO at HouseSimple, Alex Gosling said “In large urban areas where many properties don’t have a garden or access to a communal garden, living near public parks or green spaces is often one of the top wishes amongst buyers.

“That high demand inevitably impacts on the price people will pay, but many buyers may not realise just how much of a premium they could be paying. That doesn’t mean there aren’t good value properties around some of the UK’s urban green spaces, but for real value, it’s probably worth looking at roads that are a short walk away”.

The Most Valuable and Most Popular Home Improvements Revealed

 

 

Owning a home means that there is a good chance you’re constantly considering what additions and improvements you could make to your most valuable asset.

If you are currently pondering your next project, then the new research from Zopa may be of help to you as they looked into which improvements add the most value and which are the most popular amongst homeowners.

In a survey of 1,550 homeowners throughout the UK who had recently taken out a home improvement loan, Zopa found the loft conversion to be the most valuable home improvement, adding a huge 13% to the property’s value on average and giving 70% return on investment for those looking to sell their property.

What may come as a surprise is that although it is the most valuable improvement, only 2% of homeowners have chosen a loft conversion, however, it is also one of the more expensive options, at an average cost of just under &24,000.

The most popular improvement, according to the survey was a renovated kitchen, with a quarter of survey participants opting for shiny and new cooking area.

A new kitchen sets homeowners back by over &17,000 on average and adds 10% to the property's value with a 51% return on investment for sellers. In comparison to the other improvements, it is on the more affordable end of the scale and shows a sizeable return, so it is no surprise that it is the most popular choice.

The full results of the research can be found below.

 

Zopa CEO, Jaidev Janardana, said, “Home improvements can be a cost-effective way for homeowners to add value to a property for the long-term. Taking out a personal loan instead of remortgaging or using an expensive credit card, could be a smart choice for homeowners who want to spread the cost of a home improvement project over a number of years through an affordable monthly repayment, and who prefer a quick and simple online application process.”

What to Consider When Designing Your Garden

 

 

Plants, furniture, and space. These are the three most important areas where you should direct your attention when planning your next garden makeover.

If done well, you can create a space that is as aesthetically pleasing as it is practical for the whole household.

In fact, unless your garden makeover involves a complete upheaval and redesign, there is very little that can go seriously wrong. But just to be sure that that doesn’t happen, we have a few pointers that we think can help you make the best of your garden - however big or small it is!

Plant planning

Nothing will bring more life to your garden, literally or metaphorically, than filling it with plants of different shapes, sizes, and colour. And if you ask us, the greener the better. Over the past few years, correlations have been made between mental well-being and time spent in nature, so line your garden with green and rake in the benefits.

Potted or planted? Depending on your garden type, this decision may be made for you, but if you do prefer potted plants, try using buckets or ornamental vases for artistic appeal.

Another important decision to make is the choice between low maintenance or high maintenance plants. If you don’t have a particularly green thumb, you should consider plants that will need minimal care and that last all year round rather than ones that need to be replaced seasonally.

Make yourself at home

Comfort in your garden is non-negotiable. Why design a paradise that can only be enjoyed from afar?
Your furniture needs may be determined by your household size and whether you frequently invite guests over or not, but don’t let that deter you from splurging on seating, there is no harm in having too many seats or cushions to choose from!

Nestle your tables and chairs amongst your shrubs and flowers, and create a tranquil living space.

Making every inch of space count

Having a small garden does not mean that you have to have no garden at all. Create your own mini haven by surrounding your outdoor furniture with shrubs that are ideal for privacy. And to make your secret garden even more charming, use feature tiles, fairy lights, and textiles.

Once you‘ve used up all of your floor space, why not move upwards? Climbing trellises along your walls and fences can add an elegant touch.

As can shelves bearing potted plants along your exterior walls. This will add a contemporary and sophisticated look to your garden and will make use of space that would otherwise have been wasted.

Design away!

Whether you prefer minimalist or busy designs, make your garden your own by taking the time to carefully plan it. If you do prefer the thought of a simple garden, use symmetry to your advantage.

Flowers, shrubs and trees will add a healthy look to any garden, especially when there is a higher patio to grass ratio. Make the most of your lawn space by moving vertically along your walls with trellises and outdoor shelving, and use pots that add character to your garden.

Furniture serves more than a practical purpose. Your outdoor seating should be arranged to maximise your space and to create an enjoyable space.