Naming your home could add thousands to its value
Most homeowners are aware that property improvements such as investing in a new modern kitchen or bathroom, renovating the front of their house or adding an extension are just a few sensible ways to add value to their home - but these all come with a hefty upfront investment price to begin with. However, research and experts in the industry suggest that there’s one property change you can make that can potentially add thousands to the value without any upfront investment whatsoever.
Give your house a name.
A survey by onthemarket.com discovered that regal titles such as Crown Castle, Crown Cottage, Royal, Clarence etc. could add as much as £30,000 to the right property in the right area.
While some estate agents have claimed that many buyers are more attracted to properties with a house name rather than just a number and are often willing to pay as much as 40% more to secure the purchase.
How do you name your home?
Adding a name to your home is quite simple, with just a few administrative things to deal with.
You must contact the Royal Mail as well as the local council to formalise the change, which is normally free unless there’s a small administration charge (typically £40) and ensure the name you choose is locally unique. It’s also best to keep the number as well. The local council will then consult with Royal Mail to check that the house name you have chosen doesn’t conflict with other properties in the area and isn’t likely to cause offence to anyone.
Once they are satisfied with the name you have chosen, the renaming certificate must be sent to the Land Registry, Electoral Registration and Council Tax and Planning Department.
Once the name is added to your home, don’t forget to update the likes of your bank, utility companies and your GP.
Why might naming your home be a good idea?
Naming the home has been an old British custom that first began with the upper class adding a title to their manors, halls and castles. House names add a personal touch and can affect a buyer’s feeling about the property in a positive way if chosen carefully. You’ll want to make sure the name you choose fits in well with the house, perhaps something popular and aspirational to help tip a buyer towards choosing your property over another.
Many estate agents claim that houses with common names, such as Orchard Cottage, The White House or Primrose appear to sell a lot quicker than houses with quirkier names, suggesting that familiarity with the title is likely to be a far greater drive when it comes to home buyers choosing to purchase a house with a name - or to be influenced in to doing so.
So… what will you call your house?
If you’re looking to sell your property in Cardiff, don’t hesitate to get in touch with our expert sales team here at CPS Homes. We have extensive knowledge of the local area and we’re keen to help find the perfect buyer for your home. Contact us today by calling 02920 668585, e-mailing enquiries@cpshomes.co.uk or by popping into one of our three Cardiff branches.
The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.
