Modern kitchen makes a listing more desirable, new research suggests

Wednesday, 26 August 2015 A modern kitchen most likely to make homes more desirable to buyers and tenants in the UK while off street parking and a back garden are also influential, according to new research. A survey of estate agents found that 28% said a modern kitchen was the one feature most likely to prove attractive to potential buyers, 23% said a driveway or off street parking, 17% an open plan kitchen/diner and 14% a back garden.
 
Other features chosen as most desirable to buyers were an en-suite in the master bedroom, neutral painted walls, fast internet connection, a conservatory, a front garden and real wooden floors.
 
The data was gathered by listing portal OnTheMarket and it also found that according to some agents, a modern kitchen could add up to £50,000 to the value of a listing and the majority said it could add between £4,000 and £5,000, depending on the listing’s overall value and size.
 
Agents who said a modern kitchen was the most likely feature to make a home more desirable were mainly based in the South East.
 
‘Whilst the kitchen has always been a central part of the British home, its popularity amongst buyers and tenants has increased, triggered in part by the surge in culinary TV programmes,’ said Martin Flashman, a partner at Martin Flashman & Co, which has branches in Weybridge and Walton in Surrey.
 
‘Buyers are particular about kitchens, their existing facilities and the ability to extend them. Families are now spending more time in the kitchen, cooking together, baking and generally being foodies,’ he added.
 
Nick Guy, director of Martin & Co lettings in Reigate also cited the popularity of cooking television shows. ‘This has led to more people experimenting with food and pushed the kitchen to the forefront of a tenant’s/buyer’s mind when they view a listing. Everyone likes to picture themselves cooking impressive meals among family and friends,’ he said.
 
‘Buying a new home represents an investment in a certain lifestyle and for some, having a top of the range kitchen with a wow factor is part of this. It is true that this is the room that can often make or break a listing deal,’ he added.
 
The majority of agents suggested that off street parking could add £10,000 to £20,000 in value, depending on the listing’s overall value and size. Agents who chose this option were mainly from the South East, Wales and the Midlands. 
 
Brian Thomas, from Ferriers Estate Agents, which covers Mid/West Glamorgan in Wales, said the appeal of off street parking was no longer confined to big cities. ‘Some of our potential buyers and tenants will not even consider looking at a listing if it doesn’t have off street parking,’ he said.
 
‘Most families now have at least two cars, so off street parking is high on their wish list. For this reason it can add around 10% to 15% to the value of a listing,’ he added.
 
The majority of agents who chose a back garden as the feature most likely to make a home more desirable to buyers said it could add up to £20,000 to the value of a home, depending on the size, location and overall value of the listing.

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Source: Property News Spain