Why well designed homes are worth more
Regular readers of our blog may have noticed that we frequently talk about the importance of good design when it comes to planning your home renovation project. A build based on detailed and well thought through plans generally runs more smoothly, avoiding misunderstandings and expensive last minute changes.
Good design also results in better use of space and a house that works well for the people who live there. We would always suggest spending a bit more time and money to find an architect who understands the aspirations you have for your project.
As architects ourselves it’s probably no surprise that we feel this way, so we were interested to read about recent research commissioned by The Modern House estate agency which confirms that this would be money well spent.
Having dominated a niche of the property market for over 10 years by specialising in design-led homes, the directors of The Modern House wanted to find out if their hunch that people will pay more for good design was right and, if so, by how much.
“Well-designed London homes sell for 12% more on average, so keep design at the centre of your project”
Their research analysed the sales of over 14,000 London homes over three years, comparing them on a price per square foot basis. The results showed that the architecture and design focused homes sold by The Modern House achieved a 12% higher selling price on average.
The uplift does vary slightly depending on the property value (higher value houses saw a greater increase), and of course there are no guarantees, however there does seem to be a clear premium for well-designed homes.
Albert Hill, a founding director of The Modern House, acknowledges that there may be other factors involved: “There is a question around whether the uplift is down to the design […] or the positioning and presentation of the property by The Modern House. Is it, in other words, a design premium or a curation premium? […]We think it’s a mixture of the two.”
The Modern House do an exceptional job of marketing the houses they sell, but when you consider that previous research by the London School of Economics has reached the same conclusion regarding the added value of design, their results become even more compelling.
This is something that we, like the founders of The Modern House, have always suspected and it’s affirming to have some evidence. One of the aims of our masterclasses is to help everyone achieve the best design for their money – we don’t believe that good design should be only for those with biggest budgets!
As to why people are prepared to pay more, based on his experience Hill suggests: “Today’s consumer increasingly values experiences over products, and well-designed spaces that you occupy every day offer just the sort of transformative experiences that buyers aspire to. In the past, the Joneses may have been impressed by how many bedrooms you had, or how far your garden extended, but today it’s more about how you’ve used the space that you have. How, in short, it has been designed.”
We have created a FREE Renovation Budget Guide
that unpacks all the figures of a project – from building costs and professional fees to those extra expenses that no-one tells you about.
This will put your construction budget in the context of the whole project’s costs and make sure you’re considering all those added extras from the outset.
How much will my extension cost in 2024?
It’s the all-important question for home renovators: how much is my extension really going to cost? Read on to find out!
Natural Plaster – and why we can’t get enough
Want a material that is beautiful, and works hard for you? Look no further than Natural Plaster. We explain why we can’t get enough of it!
The New DIY: Online Renovation Courses
More homeowners are turning to online renovation courses as a way to save costs on their renovations. Take a look at our top picks!
Where NOT to scrimp on your renovation
Sometimes it’s tempting to cut corners and save a few pounds but it’s likely you’ll regret it in the long term. We share our top tips of where it doesn’t pay to scrimp in your dream home.
Open House Festival: 8th – 21st of September
For those who have decided THIS is the year that they’re going to bite the bullet and renovate, Open House London is a chance to go and see some projects up close and personal. Here’s our list of recommended projects to go visit.
Why do we still not have a national retrofit strategy?
We talk to Paul Testa of HEM Architecture about why we need a national retrofit strategy and why it needs to happen now.
How to prepare your house for builders: 10 things you must do
When getting ready to receive contractors into your home it’s important to prepare your property. Get started with these 10 must do tasks!
Our 10 top tips to buying a house
Buying a house is potentially the biggest financial commitment you will ever make, so take the time to prep with our tips!
Don’t move, Improve! 2022 Shortlist
Check out the 15 incredible London renovation projects shortlisted for this year’s Don’t Move, Improve! Awards and get inspired!
Viewing a property: The ultimate checklist
You’ve done your research! But when you’re in the actual property, remember to consider the following things…
How much will my extension cost?
When it comes to home-renovating this is the most common question we get asked. So let’s get right to it, how do you work out the REAL cost? Read on to find out!
How to make the most of a Trade Show
Returning to thoughts of renovating your home? Then jumpstart your project by attending a trade show. But first make sure you read our top tips on how to make the most of your visit!
Top tips for renovating from industry experts
We asked a range of architects and experts working in the residential sector to give us their top tip for homeowners who want to renovate.
Worried about increasing construction prices?
Everyone is concerned about increasing construction costs. We talk to BuildPartner about what measures home renovators can take to reduce risks for their projects.
Your handy guide to assessing builders
Linden from Weaver shares his a handy guide to assessing builders. So before a spade is in the ground, it’s worth taking a moment to prepare.
Product spotlight: Little Bishop Hook
A neat solution for pendant lighting; we take a look at the clean design and appealing simplicity of the Little Bishop Pendant Hook
The ‘Iron Triangle’ you should embrace
It may sound daunting, but knowing about the ‘Iron Triangle’ in advance can help you plan your project and set realistic expectations.
Making the most of your outdoor space
If you’re living in London, then chances are you’re severely lacking in one department: outdoor space. But even if you only have a small patch to play with, this space can do so much for you with a bit of care and forward planning.
Your ultimate guide to extractor fans
Our complete guide answers all your extractor fan questions (even those you didn’t know you had!)
EJ Ryder and the world of joinery
Edwin J Ryder and his team specialise in bold, creative design and impeccable workmanship in their joinery and interior finishes. We spoke with Edwin to find out how they work with clients on their property renovations.
