Kitchen is king when it comes to influencing potential buyers

Kitchen is king when it comes to influencing potential buyers
It goes without saying that costly renovations are high on the wish list for most buyers

The latest survey from home services marketplace, Plentific.com, has revealed that a new kitchen is the most effective home improvement for influencing a potential buyer’s final decision as well as their offer.

The latest survey from home services marketplace, Plentific.com, has revealed that a new kitchen is the most effective home improvement for influencing a potential buyer’s final decision as well as their offer.
 
According to the data, when looking to buy a new property, 47% of potential homeowners would be influenced by it having a recently fitted kitchen. 28% would also be more likely to offer a higher price for this feature. Having a new bathroom also has a strong influence on home buyers; 46% would consider this when deciding whether to buy and 27% would potentially be willing to offer more money.
 
The order of rankings then somewhat divides. Looking at home improvements affecting the final decision to buy, new windows (45%) ranks third, followed by a new boiler (43%), a new extension (34%) and new loft insulation (33%). At the other end of the table, 31% of home buyers claimed that a new conservatory would affect their decision to buy. New garden landscaping (29%) follows this and new lighting (23%) sits at the bottom of the table.


It’s interesting when this order is compared to how home improvements affect the buyer’s decision to offer a higher price. New extensions climbs the rankings to take 3rd with 26%, whilst a new conservatory is also ranked highly with 23% of home buyers feeling this warrants a higher price. Extensions to the property clearly have a stronger influence on the offer than the decision to buy for potential buyers.
 
Stephen Jury, spokesperson for Plentific, said: “Many property buyers keep an eye out for particular home renovations when searching for their next home. It goes without saying that costly renovations are high on the wish list for most buyers. These can add significant value to a property and incentivise buyers to offer a higher price. If a seller is looking to get a better offer, our insight could provide useful guidance on which home improvements to invest in."

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Tony Gimple 09 Dec 2017

Linking professionalism to limited company borrowing is a flawed concept. Despite S24 etc., limited companies are the most tax inefficient way of running a property business and leave borrowers seriously...

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Evelyn Attwood
Evelyn Attwood 01 Dec 2017

It's normal. If you plan to buy a house in one of the most beautiful spots in the country you should pay a high price.

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Evelyn Attwood
Evelyn Attwood 01 Dec 2017

I think that the situation will be the same at December.

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richardrawlings 01 Nov 2017

What has not been mentioned here is the effect of not only higher interest payments, but also that these payments are less likely to be offsettable as a business cost due to the scaling back of mortgage...

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Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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