When it comes to selling your home, it’s long been argued – but little proven – that good design commands a higher premium.
But new data from The Modern House reveals it can in fact add an average 12% to your sale price.
The London-based estate agent specialises in selling architect-designed homes, and worked with Dataloft on the report, comparing over 200 of the company’s own sales against 14,084 houses sold across 100 postcodes in the wider London market from 2014 to 2017.
‘Design is a real differentiator for today’s home buyers and they are prepared to dig deep if they can see design having a tangible effect on their lifestyle,’ says Albert Hill, co-founder of The Modern House. ‘More than ever people are looking for transformative experiences and so the enthusiasm for investing in a great home space is not surprising.’
The Modern House found that while its architect-designed homes sold for 12% more on average than similar-sized houses per square footage in the same postcode, this increased to a whopping 19% more when the house was valued above the £1m mark.
But what constitutes good design? According to The Modern House, a well-designed home considers the relationship between indoor and outdoor living spaces, exudes a sense of ‘spatial drama’ – think high ceilings, volume and natural light – and is decked out in well-curated fixtures and furnishings.
There are of course some exceptions to how much good design can command…
‘In some particularly high value markets, where super-prime properties are the norm and there is no mainstream market to benchmark, any design premium seems to be lost within a general price premium,’ says the report.
