Buying A London House With Potential
I advise my clients to partially treat their London house like an investment and, wherever possible, to try to add potential value to their house over the years.
Some of the ways in which I advise my clients to potentially add value are:
1. A Poor Energy Performance Certificate (EPC)
If you find a property with a poor EPC, it may immediately turn you off booking a viewing, far less putting in a offer on it…
However, in some cases, a number of improvements can be made.
Could you add solar panels?
Could you improve or replace the current boiler?
Could you install thicker insulation throughout the apartment and in particular in the loft?
2. Restore Period Properties
Period features are always sought-after by buyers of an older house.
Could you restore the fireplace(s)?
Could you restore the floorboards?
Could you restore the staircase?
Could you restore the bannisters?
Could you restore the cornice in the ceiling?
3. Home Office
Could you create a dedicated home office?
This could be in a garage or in a dedicated space if your private garden allows for it…
Alternatively, you could turn a bedroom or part of a bedroom into a home office or dedicated working space!
“The kitchen and bathrooms within a house are often two of the most valuable rooms for the seller.”
4. Home Gym
Could you create a dedicated space in your private garden which could be turned into a home gym?
Could you convert the garage into a home gym?
5. Kitchen & Bathrooms
The kitchen and bathrooms within a house are often two of the most valuable rooms for the seller (and to any future buyers!) and because of this, if and when they are done correctly, they can add serious value.
Could you knock down a wall to create an open plan kitchen/ living space?
Could you update the kitchen cabinets?
Could you add a kitchen island?
Would you ever be persuaded to purchase a London house with potential?