Outdoor space will increase your homes value
According to a recent study by one of the UK’s largest home loan providers, more than 2/3rds of UK homebuyers would be happy to pay an additional premium for their new home, providing it came with a spacious garden.
Staggeringly, around 20% UK homebuyers would be happy to pay upwards of £40,000 for the luxury of a back garden, with an additional 68% of people stating that they would be happy to pay around £15,000 extra. Housing experts speculate that at least 15% of homeowners in the UK are not making the most of any land associated to their home, and are potentially losing an additional 13% of its market value when they come to sell.
At a time when house prices are touching record highs, it would be foolish for any person that is contemplating the sale of their home to not consider a little outdoor remodelling, space permitting of course. In addition, the study has also revealed that recently wed couples are amongst the most likely to succumb to higher home premiums for the sake of a garden, as are young families and higher end first time buyers.
