2023 property trends: How to add value to your home
Whether you’re currently listing your house for sale or just want build the best home for you and your family, there are plenty of ways to add value to a property.
And while some features are timeless additions that always interest buyers, there are also trends in the housing market that gain popularity over the years.
With house prices predicted to fall and mortgage rates still on the rise, you no doubt want to make the most out of your home. In this article, roof window experts RW4Y take us through some of the top property trends of 2023 that could help you add value and attract potential buyers.
Energy efficient features
In recent years, buyers have displayed the desire to be more energy efficient, and in turn are seeking out properties that will help them do so more easily. In fact, research by Rightmove found that since 2020, agents are using 73% more green terms as key selling points in their property descriptions (such as ‘sustainable’ and ‘low carbon’).
However, this year, the emphasis on being more eco-friendly doesn’t just come from growing concerns over the environment: as we head into 2023, the UK is also facing a cost-of-living crisis and feeling the effects of soaring energy bills. Buyers are therefore seeking out homes with energy-saving initiatives already built-in, to help them get the most out of their gas, electricity, and water bills each month.
Any way you can make your property more energy-efficient will help. In fact, Rightmove estimates that improving your home’s EPC (Energy Performance Certificate) could actually add 16% to its overall value. This might be through installing features like solar panels, heat pumps, adding extra insulation, or electric car chargers.
One particularly effective way of improving your home’s energy rating is by fitting triple-glazed windows, as not only do they retain heat more efficiently, but they can also reduce noise pollution and boost your property’s curb appeal. While these might be an investment in the short term, they will make your property far more desirable for those wanting to be greener without having to undertake the installation themselves.
Creative loft conversions
A loft conversion can cost up to four times less than a full extension, and they tend to be around £15,000 to execute. This makes them a much more cost-effective way to maximise the space in your home without having to alter its footprint, and for simple loft conversions, you may not even need planning permission.
However, you should always check this with the proper planning authorities beforehand, which will usually be your local council.
One of the most popular uses for a loft conversion is to add an extra bedroom, and for good reason: an additional bedroom can add up to 15% onto the value of your property when it’s time to sell.
Depending on the loft you already have, you may be able to add plumbing and create an ensuite bedroom. Alternatively, you may choose to keep this space as simple as possible to keep costs low. Either way, be sure to open your loft conversion up with large roof windows, as these will let in plenty of natural light to prevent it from feeling dark or cramped.
This versatility means that loft conversions have been a popular value-adding feature for some time now. However, in recent years, property experts have also noticed a growing interest in houses with unique or unusual features, perhaps due to flexible working policies opening our eyes beyond conventional locations and commuting.
So, opting for a more creative conversion could help set your home apart from the rest. Below are three of the most in-demand features we can expect to see in 2023.
1) Home office
Hybrid or remote working has become much more commonplace since the pandemic, and as a result, a home office has become a key, often deciding factor for many potential buyers.
The beauty of this feature is that it won’t require any extra plumbing or significant construction work: all you need is electrical supply and a secure Wi-Fi connection, and the rest can be achieved with furniture and storage space.
2) Family cinema room
For something more suited to leisure rather than work, you may consider using your loft conversion as a cinema room. Ideal for families, this can add a unique selling point to your property and make it a memorable listing that stands out among the rest.
You can create a cinema room by installing comfortable seating, speakers, a large screen or white wall that’s suitable for a projector, and perhaps some basic sound-proofing if you’re concerned about disturbing the neighbours. It’s also wise to install blackout blinds or curtains over your loft windows to stop light filtering in, so you can recreate the cinema experience at home.
3) Home gym
Finally, one desirable property trend that’s here to stay is the addition of a home gym. While the search for home exercise equipment did peak due to lockdown restrictions throughout the pandemic, the ease and convenience of having your own personal workout space has made home gyms an enduring attraction.
Adding a mirrored wall, equipment racks, and perhaps some reinforced flooring to your loft conversion can therefore turn your property into a no-brainer for any fitness enthusiast.
Now more than ever you need to make your house stand out from the crowd
Despite the property boom over recent years, experts are predicting that the housing market is heading for a slight decline. As a result, you may be looking for ways you can make your listing more valuable and stand out from the crowd.
Some additions like extra bedrooms and loft conversions have always been desirable, value-adding features that buyers look for. However, with environmental concerns and a cost-of-living crisis on many people’s minds, factors like energy efficiency ratings are proving important too. S
taying up to date with what buyers are truly searching for can help you make the most out of your property, whether you’re in the process of selling or simply considering it in the future.
RW4Y is part of the FAKRO group, one of the fastest-growing roof window manufacturers in the world, with over 27 years of experience in innovating and designing products, including roof windows, roof window blinds, and loft ladders.
Photo by Bruno Martins