Online estate agent Tepilo takes a look at the features that are most attractive to homebuyers, with original period features scoring highest.
When selling a home, it’s always useful to know what buyers are looking for. That way, you will be able to know which parts of your home to emphasise and you can tailor your marketing and sales strategy accordingly.
New research – which surveyed 1,000 UK adults – found that 82% of British buyers would most like to buy a period property.
Despite this, 69% of buyers who would prefer a period property said they didn’t think they would be able to afford one – with homes of this type often costing more than their new-build counterparts or properties built in the great housebuilding surges of the 1930s, ‘50s and ‘70s.
Period properties tend to be grander and take on added value and prestige as a result of their age and original features. What’s more, they are very often found in affluent, well-to-do areas, where Georgian, Victorian, Regency, Elizabethan and mock-Tudor abodes are commonplace.
Original features top the list
For over half of those surveyed by DiscountFlooringDepot.co.uk (51%), original features were the key characteristic they looked for in a property. The most desirable of these features included original windows (42%), feature fireplaces (40%) and real wooden floorboards or tiled flooring (37%). Completing the top five most sought-after features list were decorative details such as cornicing and ceiling roses (26%) and original radiators (21%).
Why are period properties so popular?
As well as original features which add a certain charm, intrigue, glamour and elegance to a home, period properties also tend to score highly on character – something which newer homes struggle to offer buyers because of, well, their newness.
While many are drawn to new-build homes because of their suitability for modern, 21st century living, with their mod-cons, high-level finishes and casual comfort, a lot of buyers dream of living in a period property – which evoke certain images, feelings and sensations in people, and draws instant associations with the sort of period dramas that are often screened on TV.
The allure and pull of period properties is not hard to fathom, with the extra space they offer (period homes often have high ceilings, sizeable basements, spacious loft areas and large kitchens, bedrooms and living rooms), the garden and green space they provide and the great locations they sit in (often in the heart of towns and cities or plush areas on the outskirts).
For this reason, period homes often come with a hefty price tag attached, so if you are a seller looking to bring your period abode to market you won’t be short of willing buyers and should feel confident of achieving an excellent price for your home.
Demand for this type of home is consistent and perpetual, so you should have no worries about its appeal waning over time. Period homes are fairly immune to changing trends, changes in buyer sentiment and external influences, with their popularity enduring from generation to generation.
In fact, the research found that 89% of millennials (generally categorised as those aged between 20 and 37) were hopeful of purchasing a period property, closely followed by 86% of Generation X (those aged between 38 and 58, and sometimes known as the baby boomers).
How can a new-build be turned into a period one?
If you don’t have a period home but want your property to appeal to buyers who are looking for one, there are simple steps that can be taken to add some character and period features to your dwelling. This, in turn, could improve your pitch to would-be buyers and increase your chances of selling your home for a higher asking price.
Sash or bay windows, for example, could be fitted, cornicing could be added, real wood floors could be installed and a feature fireplace could (if your home allows for it) make its way into your living room. Best of all, none of this is likely to break the bank.
Period or new-build, demand for homes is as high as ever. So, whether you have a home built in the 1640s, the 1790s, the 1830s, the 1920s or the early 2000s, you will have a decent chance of getting your home sold for its asking price or above. If you have original period features, that task may become slightly easier.