Five ways to convert existing space at home to add up to 20% value in lockdown

Making the most out of existing space could drastically add to the value of a property, with additional bedrooms increasing the value by as much as 20% according to experts, or £51,200 considering the average house price in England (£256,000).

The research by self-storage company, Space Station, found several ways in which homeowners can increase the value of their homes without paying for an extension, and instead simply making the most of existing space in a property.

Creating an open plan living area, installing an additional bathroom, or adding another bedroom can all be accomplished for a lot less than the cost of an extension, and in many cases, this does not require planning permission.

Here are five ways you can maximise existing space to increase property value:

1.      Convert a room into a bedroom (20% increase in value, £51K of average house price)

Converting the purpose of a room can add extra value to a property and costs very little to do effectively.

Having an office or a games room may seem desirable, but when it comes to adding value, the number of bedrooms is the figure buyers pay the most attention to, so converting a room into a bedroom will see the greatest increase in value.

As a compromise, consider making a room dual purpose, allowing it to serve as both a guest bedroom and a home office.

Holly Herbert, from We Buy Any House, said: “Not every homeowner is in a position to renovate their property, so thankfully there are other things that they can do on a budget instead.

“A great option is to use an existing room as another bedroom, especially if you have office space. Adding a bedroom to a property can increase the value by up to 20% and can be done easily enough with some redecorating and reorganising.”

2.      Convert your loft space (20% increase in value, £51K of average house price)

Alternatively, a more expensive solution is to invest in a loft conversion. This is especially useful if you do not have spare rooms which you’re able to convert, or if you want to increase the number of bedrooms whilst keeping your office space.

As lofts are generally used for storage, some homeowners may be left with a temporary shortage of space for these items. This can easily be solved however by temporarily renting storage whilst you undertake the work. Long term, you can find inventive and creative ways to create storage as part of the loft conversion, by installing storage units in the dead space.

Holly said: “For homeowners who are keen to add an extra room but don’t have an office space or dining area to sacrifice, a loft conversion can be the perfect solution.

“You will need to make sure that if you’re intending to advertise your loft conversion as another bedroom that it’s up to regulations, as it will need to be a certain size and have a door, as well as being safe.”

3.      Create an open-plan living area (15% increase in value, £38K of average house price)

Open plan living areas are incredibly desirable for house-hunters, and they are a great way to make your living area and kitchen feel modern and bigger than they would as separate rooms.

Knocking down the interior walls could be a DIY job, but it’s important that you establish whether the wall is load bearing. If it is then you will need to ask for expert help to find a solution, as knocking down a load bearing wall could have disastrous consequences.

Holly said: “Creating an open-plan living area can increase your value by up to as much as 15% when done well and will almost always encourage potential viewers to make an offer on the property.”

4.      Install additional toilets or bathrooms (5% increase in value, £13K of average house price)

A spare storage room or under-stairs cupboard could be converted into an additional toilet, and you can even add an extra bathroom to a property if you have the room.

This is especially worthwhile for homes with a limited number of existing bathrooms, but you should beware of losing a bedroom. A good option would be to create a small en-suite if you have a large bedroom.

Adding extra bathroom facilities could increase the property value by as much as 5%2 and is especially worthwhile in older houses that may have fewer existing bathrooms.

5.      Create storage solutions out of spare space (up to 5% increase in value, £13K of average house price)

Making the most out of nooks and crannies in your home can really make features stand out, as well as adding value.

Converting under-stairs cupboards or alcoves into storage areas helps to make your living areas more practical, as well as adding value by making your home look more unique and functional.

Holly says: “The value added by storage is difficult to pin down and varies hugely depending on the storage in question. Large scale projects like a wine cellar or basement renovation can add a significant amount to the value, whereas low key storage solutions will increase it by a lower amount.

“However, storage is very appealing to buyers, so even if it does not significantly increase the overall value, it will help to make a property more desirable.”

Vlatka Lake, Marketing Manager at Space Station, said: “Adding value to your property is something that can be easily done by any homeowner, and whatever the size of their budget.

“We hope that these tips can inspire people to make the most of their spare space, helping them to maximise their property value when they come to sell.”

For more information on how you can increase the value of your property, visit: https://www.space-station.co.uk/blog/ten-ways-to-increase-the-value-of-your-property

New Year, New Home? Property trend predictions for 2021

Why ‘urban village’ living is topping the wishlist of prospective homebuyers

Life as we know it changed dramatically in 2020. The way we work, socialise, and unwind has been fundamentally affected by the global pandemic and, in response, it is evident the priorities of prospective homebuyers have been altered significantly.

As we enter the New Year, the property experts at AMA Homes share their top property trends to look out for in 2021 and reveal which of their award-winning luxury developments ticks all the boxes.

Topping the trends in 2021 is the desire for ‘urban village’ living. The ideal urban village location offers residents all the comfort and sense of community that comes from village life, but couples it with the added bonus of having all the amenities of a large city within close proximity.

The rise in popularity of urban village living is, in part, related to the significant increase in professionals working from home. With many now opting to make home-working their permanent choice, the daily commute is no longer a deciding factor in the homebuying process. As a result, urban village living is being added to homebuyers’ wish lists.

Instead, many are succumbing to the appeal of urban village life – a slower paced way of living, a closeness with nature, a connection with neighbours, and a feeling of belonging. Yet all the benefits and convenience of remaining close to the city centre, where theatres, bars, restaurants, and shops are just a short journey away.

Ticking all the boxes of urban village living and therefore fast emerging as a property hotspot is Cramond – a quaint coastal village situated in the north-west of Edinburgh, at the mouth of the River Almond where it enters the Firth of Forth.

A peaceful and picturesque setting, Cramond offers residents an idyllic outdoor lifestyle less than 20 minutes from the capital.

It is here you will find Caer Amon, an award-winning development of luxury apartments from AMA Homes. The 32 ultra high-spec apartments are set within a series of gardens and landscaped courtyards. The exterior white walls sympathetically echo the whitewashed cottages at Cramond harbour, whilst the interiors have an unmistakably contemporary light and spacious feel. They benefit from zoned underfloor heating and excellent insulation, making them highly energy efficient.

The development was designed by Richard Murphy Architects, a world-renowned practice that has 20 RIBA awards to its name. From the very first Maggie Centre in Edinburgh, which was nominated for the 1997 Stirling Prize, to his own home on Hart Street, which won the RIBA House of the Year in 2016, Richard Murphy has created ground-breaking, innovative buildings, and Caer Amon is no exception.

28 properties at Caer Amon have already sold but house-hunters will be pleased to hear two apartments at Caer Amon have just been re-released; 30/11 Brighouse Park Cross – available now at the fixed price of £820,000, and 29/5 Brighouse Park Cross – available now at a fixed price of £500,000.

Commenting on the rise in popularity of the urban village lifestyle, AMA Homes Director, Behnam Afshar, said; ‘What we are witnessing is a major shift in the housing market which is directly related to wider changes in peoples’ lifestyles.

‘Urban village living offers the best of both worlds and nowhere is this better encapsulated than at Caer Amon – a peaceful neighbourhood in a stunning coastal location, a mere five miles from all that the Scottish capital has to offer.’

According to Behnam, the fast-paced property market shows no sign of easing up as we enter the New Year, therefore homebuyers interested in finding out more about urban village life at Caer Amon are advised to book a viewing in the first instance, strictly by appointment only.

2020 may have been an unpredictable year, with many homebuyers questioning their priorities, but it is clear from the performance of the property market that urban village living will continue to provide the ideal answer for many in 2021 and beyond.

Top property trend predictions for 2021

Why ‘urban village’ living is topping the wishlist of prospective homebuyers

Life as we know it changed dramatically in 2020. The way we work, socialise, and unwind has been fundamentally affected by the global pandemic and, in response, it is evident the priorities of prospective homebuyers have been altered significantly.

As we approach the New Year, the property experts at AMA Homes share their top property trends to look out for in 2021 and reveal which of their award-winning luxury developments ticks all the boxes.

Topping the trends in 2021 is the desire for ‘urban village’ living. The ideal urban village location offers residents all the comfort and sense of community that comes from village life, but couples it with the added bonus of having all the amenities of a large city within close proximity.

The rise in popularity of urban village living is, in part, related to the significant increase in professionals working from home. With many now opting to make home-working their permanent choice, the daily commute is no longer a deciding factor in the homebuying process. As a result, urban village living is being added to homebuyers’ wish lists.

Instead, many are succumbing to the appeal of urban village life – a slower paced way of living, a closeness with nature, a connection with neighbours, and a feeling of belonging. Yet all the benefits and convenience of remaining close to the city centre, where theatres, bars, restaurants, and shops are just a short journey away.

Ticking all the boxes of urban village living and therefore fast emerging as a property hotspot is Cramond – a quaint coastal village situated in the north-west of Edinburgh, at the mouth of the River Almond where it enters the Firth of Forth. A peaceful and picturesque setting, Cramond offers residents an idyllic outdoor lifestyle less than 20 minutes from the capital.

It is here you will find Caer Amon, an award-winning development of luxury apartments from AMA Homes. The 32 ultra high-spec apartments are set within a series of gardens and landscaped courtyards.

The exterior white walls sympathetically echo the whitewashed cottages at Cramond harbour, whilst the interiors have an unmistakably contemporary light and spacious feel. They benefit from zoned underfloor heating and excellent insulation, making them highly energy efficient.

The development was designed by Richard Murphy Architects, a world-renowned practice that has 20 RIBA awards to its name. From the very first Maggies Centre in Edinburgh, which was nominated for the 1997 Stirling Prize, to his own home on Hart Street, which won the RIBA House of the Year in 2016, Richard Murphy has created ground-breaking, innovative buildings, and Caer Amon is no exception.

28 properties at Caer Amon have already sold but house-hunters will be pleased to hear two apartments at Caer Amon have just been re-released; 30/11 Brighouse Park Cross – available now at the fixed price of £820,000, and 29/5 Brighouse Park Cross – available now at a fixed price of £500,000.

Commenting on the rise in popularity of the urban village lifestyle, AMA Homes Director, Behnam Afshar, said; ‘What we are witnessing is a major shift in the housing market which is directly related to wider changes in peoples’ lifestyles.

‘Urban village living offers the best of both worlds and nowhere is this better encapsulated than at Caer Amon – a peaceful neighbourhood in a stunning coastal location, a mere five miles from all that the Scottish capital has to offer.’

According to Behnam, the fast-paced property market shows no sign of easing up as we enter the New Year, therefore homebuyers interested in finding out more about urban village life at Caer Amon are advised to book a viewing in the first instance, strictly by appointment only.

2020 may have been an unpredictable year, with many homebuyers questioning their priorities, but it is clear from the performance of the property market that urban village living will continue to provide the ideal answer for many in 2021 and beyond.

Pay rises – but house prices rise higher

The team at Coulters Property have looked into the housing landscape for first-time buyers to discover how much you would need to be able to afford a 10% deposit around the country, how much this is as a percentage of average annual income, and how this has changed over the last 20 years.

https://www.coultersproperty.co.uk/first-time-buyer-changes

Scotland First Time Buyer Landscape (1999-2020)

1999202010 YEAR DIFFERENCE (£)10 YEAR DIFFERENCE (%)
House Price£49,924£152,469£102,545.00205.40%
Deposit£4,992£15,247£10,255205.43%
Earnings£16,914£30,000*13,08677.37%
Deposit % Earnings29.50%50.70%21.20%

*2019 earnings data used


You can clearly see that in Scotland, house prices have risen by 205.40% but earnings have only risen by 77.37%. The deposit as % of earnings has increased by 21.20%.

How Has Housing Affordability Changed in the UK?

  • In 1999, the average house price in the UK was just £77,961. Fast forward twenty years and that figure has almost trebled, to £230,735.
  • At the same time, the average income has also increased, but only from £17,803 a year to £30,353, an increase of 70%.
  • In 1999, a 10% deposit would have worked out at about 43.8% of your annual salary, these days, that figure has risen by about three quarters to 76%.

You can see the full research here.

Capital property market’s strongest summer in a decade

EDINBURGH’S property market enjoyed its busiest summer in more than a decade, according to figures released by one of the capital’s leading experts.

Data from Warners Solicitors & Estate Agents reveals that sales increased 20% on the same June to August period last year as the capital continues to thrive despite struggles experienced in other parts of Scotland. Continue reading Capital property market’s strongest summer in a decade

Edinburgh’s Housing Market Banishes Brexit Blues

WITH TEMPERATURES rising in the capital, property market activity among both buyers and sellers is continuing to hit record levels.  According to Warners Solicitors & Estate Agents, activity is at its highest since the ‘credit crunch’, and shows few signs of slowing down despite the prospect of Brexit. Continue reading Edinburgh’s Housing Market Banishes Brexit Blues