The latest survey from Plentific.com has revealed that 45% of respondents felt new windows would influence their decision to buy a property.
A new kitchen was found to be the most effective home improvement for influencing a potential buyer’s final decision as well as their offer.
When looking to buy a new property, 47% of potential homeowners said they would be influenced by it having a recently fitted kitchen and 28% said they 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% said they would consider this when deciding whether to buy and 27% would potentially be willing to offer more money.
A new extension ranked third for influencing the offer, making 26% of home buyers more likely to offer a higher price.
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.
When this 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. This demonstrates that extensions to the property clearly have a stronger influence on the offer than the decision to buy for potential buyers.
Spokesperson for Plentific, Stephen Jury, 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.”
Summary:
- A new kitchen has the greatest influence on both a home buyer’s decision to buy (47%) and their likelihood of offering a higher price (28%) for a property
- A new bathroom ranked second on both lists as 46% admitted it would affect their decision to buy, whilst 27% agreed it could warrant a higher price
- 45% felt that new windows would influence their decision to buy a property
- A new extension ranked third for influencing the offer, by making 26% of home buyers more likely to offer a higher price
