A property value is the worth of the benefits of the property that indicates the meeting point of how much the buyer is willing to pay and the amount the seller is willing to accept. Most of the time, it is determined by a professional surveyor who determines the benefits of the property that are realized over a long period.
The greatest factors that affect the property value are:
- Location: It is one of the most important factors in determining a home’s value.
- Size of the property: Usually, the bigger the size of the property, the higher its value.
- Age of the building: Newer buildings have a higher value than older buildings.
- Construction quality, Finishes, and Features: Design and construction materials play a big role in determining the value of the property. Well-chosen materials, sustainable buildings, and a design that boosts physical and mental health … All are factors that boost property value.
From this, we are going to mention in this article some design tips that increase your home’s value, which is one of the most important factors in determining a property cost.
4 Design Tips that increase the value of any residential property:
1. Shape & Layout:
The design of the home and the layout plays a very important role in determining the price. The design should be uncomplexed, not complicated with too many corners and unnecessary
hallways, and the space is used in the right way. Wasted spaces lead to an increase in price with less functionality when determining its cost per square foot. There are properties with small
spaces that feel bigger and brighter than bigger and more expensive ones with bad design.
Moreover, the layout should adhere to a safe and healthy lifestyle, like considering a well-studied bed placement to ensure the natural light enters it, and avoid impeding walkways and exists for emergency cases,
2. Finishes and features:
When designing a house or a villa, it is essential to choose the right materials that are strong, timeless, benefit the residents’ mental and physical health, and are aesthetic as well.
Choosing high-quality and timeless materials helps in avoiding the need for renovation in the future. Thus, less cost over time.
For example, engineered wood floors are a strong, durable, and affordable material that can last over 100 years and increase up to 2.5 % of the home value.
Another example is marble material. Although it has a higher price than other materials, it will pay off as it lasts decades and gives a more luxurious and bright mood to the place.
Features such as extra bathrooms, garages, beautiful landscapes, and well-used basements can all have an impact on property value.
3. Lighting:
Considering a bright home can unbelievably boost the value, Since everyone is aware of the benefits of the bright space in enhancing the physical and mental health of the residents. The demand for this type of residential property is always increasing, especially the home where natural light enters it widely. You can achieve this by considering a glass door between the ground floor and landscape in case of designing a villa. Otherwise, floor-to-ceiling transparent windows in living areas and bedroom design lets daylight in the home resulting in a bright, wide, healthy space. Moreover, glass helps lower artificial lighting needs and consequently, the associated share of energy consumption as well.
4. Consider an open floor plan:
An open floor plan is highly desirable and increases the home’s value to prospective buyers up to 7.4% a year.
By connecting the dining, living, and the kitchen, that will not only make your home a happier place to live, it will also be increasing its value significantly.
It is a more modern way of living, people prefer as they find it more entertaining and beneficial.
As a conclusion, although design is not the only factor in determining the property value, it’s one of the most important aspects to consider. One small design feature can lower the value in a way you can’t imagine. And, on the other hand, a creative and beautiful design boosts it 100x times.