It goes without saying that good architecture and design are always in demand. Architectural and design choices are two of the biggest defining factors for the value of a property — and consequently, the number of buyers interested in purchasing it.
In this article, we will discuss the various aspects of architecture and design that impact the value of a property. Keeping these in mind during home renovation and improvement projects will encourage faster sales and potentially yield higher returns on investment. So, let’s get started!
Better Architecture Translates to a Better Style and Atmosphere
People often look for spaces that have a unique element (or ‘punch of character’) associated with them. This is what makes the space feel like home over time — aside from their loved ones residing in the space, of course. Creating a characterful space is, in turn, an integral part of skilful architecture.
Good architecture often creates an ambience with elements that particular people consider special to them. For example, an ageing building with classic architecture appeals to those after the rustic vibe.
Special Architectural Features
For homes, there are particular features that enhance the architecture and increase the value of the property. Of course, these are largely subject to several factors, such as the climate of the area and the type of neighbourhood.
If your house is in a hot climate and a relatively high-end neighbourhood, adding a swimming pool can considerably add to the value of the home. Pools are generally believed to increase the property value by 7%. Likewise, fireplaces add 5% to the value of the home, and are an optimal investment for homes in cooler temperatures.
Another functional architectural feature appreciated by home-hunters is large windows that allow plenty of natural light to enter. Simultaneously, visually aesthetic architectural elements that draw the attention may attract potential buyers. Examples include decorative mouldings, fine woodwork, and ceiling beams.
Timeless Yet Functional Home Design
Having a well-designed space that is timeless and functional may increase the home’s value by 12%. Timeless designs mean the potential buyer can see it as their ‘forever home’ — or a home for years to come. Additionally, well-designed spaces are adaptable and easy to upgrade according to one’s needs as and when needed.
Timeless and functional home design focuses on various parts of the space, including the following:
Cooking at home has become more of an established behaviour post-pandemic, so people are looking for functionality in their kitchens. An open-layout kitchen in small spaces and lots of storage space, or perhaps even a walk-in pantry in larger spaces are examples of home design buyers are looking for.
Hardwood floors are always in demand, owing to their visual appeal, durability, and easy maintenance. They increase property value by 1 to 10% and are attracting an increasing number of buyers.
A Well-Maintained Outdoor Space
Around 70% of buyers are willing to pay more for a property with a well-maintained outdoor space. This doesn’t necessarily have to be something very fancy — a small but tidy backyard with plants will do the trick.
Minimalist Interior Design
Humans are naturally attracted to beauty, so interior design forms an integral part of the defining factors for property value. Simple interior decor can add 5% to 10% to the value of your property. While designing, keep the needs of the wider market in mind. Minimalist and contemporary interior design trends offer flexibility. They are aesthetically pleasing, appeal to the masses, and make it easy for potential buyers to imagine what it would be like to decorate their space in the future.
Paired with the architectural element of large windows, there should be ample lighting fixtures in home design. Well-lit spaces are warm and welcoming, and several lighting tips and tricks can help add value to the home.
Sizing and Usable Space
The size of the property is proportional to its value; larger properties snag higher prices. But beyond square footage, the amount of usable space makes a world of difference. This usually encompasses the core living area, such as the bedrooms, bathrooms, living room, and so on. This is because these parts of the home are where people spend the most time and need to feel most comfortable, unlike the attics, garage, and other unfinished areas that aren’t considered usable space.
If you’re looking to leverage the impact of architecture and design on property value, consider upgrading and improving your space. This may be achieved with renovations, such as kitchen upgrades (remember to follow the key steps to a successful renovation) and bathroom improvement projects (check out our tips and tricks for beginners). If you’re working around a budget, consider quick spruce-ups, such as revamping the interior design of your home with new decor items and a fresh coat of paint.
Struggling to choose where to spend and where to save while improving the architecture and design of your home? Connect with one of our Architecture & Planning Gurus and get them to guide your decision, including explanations of the impact each option will have on your property value.