An question many mortgage holders continually ask themselves is "How might I increase the value of my home?
Many individuals will purchase a home while thinking about the future. Redesigns or renovations may occur after some time; a new conservatory, loft conversion or living in the catchment area of a decent school are all genius ways of staying ahead in the market. But many may be unaware of the more unusual things that increase value of a property.
Properties situated near or on rivers are always worth just a little bit more, but those that come with fishing rights will do even better. Homes situated on prestigious fishing rivers such as the Itchen or Test can be elevated into a higher price range.
Proximity to a famous sporting venue
Living near a well-known sporting venue will certainly contribute towards a higher property price. Who wouldn’t want to live near Wembley Stadium, Wimbledon or the Principality Stadium? All of which are well-known global brands.
High quality brands in the area
The Waitrose effect is real, but there are many other high quality brands which add an extra bit of class to an area, having a snowball effect on local house prices, such as M&S, Carluccios and Wagamama.
Local farmers’ markets
Farmers’ markets are very popular, and if you happen to live in an old market town where you can get local fresh produce, you can most likely justify a price mark up.
Whether you live at Highlands or No. 12 Brookmeadow Road, it shouldn’t really matter, but according to research by the Cheltenham and Gloucester Building Society, 88% of individuals preferred properties with names as opposed to those with numbers.
There is inherent value living in the former home of a musician, actor or artist. Seeing a blue plaque at the front of a home, signalling it once homed someone famous makes for an excellent first impression and makes it stand out in the property market.