How much could a balcony add to the value of your East London home?
We’ve had a hot few weeks here in London (in case you hadn’t noticed) – I’m sure everyone with a balcony has been enjoying their own outdoor space, however small. But did you know that properties with balconies can be worth up to 12% more than those without? If you’re selling your home at the moment, be sure to make the most of your balcony to command the best price.
Why do London properties with balconies have such a strong appeal?
London has a massive population – over 7,000,000 – which realistically can only be accommodated in flats and apartments. Many of London’s new build properties are in high-rise blocks, and benefit from great views, but this kind of urban living doesn’t fulfil our need for outdoor space. Sure, London has a great deal of public green space, but there seems to be a strong human need for private outdoor space too. Even the most well-designed apartments have their limits, and sometimes all we want to do is step outside and experience a sense of freedom and space.
Some people use their balconies and roof terraces to grow plants and vegetables, others like the extra space and the city lights when they’re having a party. And there is no start to the day more gentle than wandering outdoors in your dressing gown, watching the world wake up while you sip your tea. We, the people of London, love our balconies and value them.
Developers have woken up to this need for outdoor space, and I’m seeing more and more developments which include communal gardens. I’ve also noticed apartment blocks where every single apartment has its own private balcony, however small. It looks like the outdoor revolution is here to stay.
Make the most of your balcony when you’re selling your East London property
Homes with balconies and roof terraces can command up to 12% more than those that lack any outdoor space. With this in mind, it’s important to make the most of your balcony when you’re selling your property. Here are a couple of ideas…
Before a viewing, move your bike and the wet washing off the balcony! Yes, it’s a good place to store them, but some attractive plants in tubs would have a lot more appeal for a potential buyer.
Sweep up, and if necessary jet wash the floor of your balcony or terrace. Give the glass in the door between your flat and the balcony a really good shine – it will let more light into the apartment and show how the balcony and its view enhance your property both inside and out.
Sell property in East London
If you’ve got a property to sell, come and talk to me, Adam Dockley. I’ve been an estate agent in East London for over twenty years and I’d love to help you sell your home. Give me a call on 020 3633 4440 to get started.