As UK homes have become smaller over the decades, the nation’s households have been feeling the pinch.
This year, a study reported by The Guardian revealed that newly built UK homes’ living rooms were almost a third smaller than equivalent rooms of the 1970s.
However, potential homebuyers in the UK continue to deem spaciousness a major draw of a home – and fortunately, property investors can free up space in homes with help from a furniture retailer.
How property investors can effectively ‘watch this space’
If you aim to make healthy financial returns from selling or letting residential property, there’s the key question of how much space the properties in your portfolio should have.
Research by LABC Warranty, a company responsible for warranties for new-build homes, has noticed living space in such UK homes falling to levels not seen since the 1940s. However, it would be risky to assume that aspiring first-time homebuyers will accept this as ‘the new normal’.
In a survey carried out by MADE.COM and reported by LondonlovesBusiness.com, potential buyers in this category cited space as their second highest priority when seeking to close a deal on a property purchase. 26% of respondents mentioned this factor – second only to affordability, which 32% brought up.
However, as we have seen, the size of new-build homes – and thus, the choice of immediately spacious properties for you to add to your investment portfolio – is dwindling. Thiscould leave you needing to resort to freeing up what little space exists in properties you already own.
Don’t underestimate the variety of small space hacks
Another crucial question facing property investors is whether they ought to offer their homes furnished or unfurnished. However, even if you take furniture out of the equation, you could ease claustrophobic feelings by creating extra floors or adding subtle shelves.
These are just two of the many space-freeing ideas from the online furniture retailer MADE.COM, which has recently launched a slider on its website showing the transformation that can take place. Whether you want to overhaul a living room, bathroom, office or kitchen and dining area, you can see the possibilities simply by clicking and dragging on the slider.
MADE.COM has worked with a creative team to produce this slider, which also allows you to quickly see how the right choices of furniture can give a room an additional sparkle. MADE.COM offers a range of upmarket furniture that it orders directly from designers.
Rearrange a home to deliver long-term satisfaction
By researching the space-saving possibilities, you can not only offload your residential properties quicker and more easily, but also leave the new residents satisfied with their purchases for longer.
However, such space-saving advice couldprove even more valuable for those planning to let rather than buy or sell a property, due to it potentially enabling them to maximise the property’s attractiveness to potential tenants.
Another study cited by the Express reveals that over half of UK adults believe their living room space is not utilisedto its full potential. It’s therefore fortunate that MADE.COM details various small space hacks for living rooms.