Spike In Demand For Rental Property With Gardens
Gardens are always in great demand in the height of summer, but in 2020, the desire for a garden has reached unprecedented levels. Anyone who has had access to a garden of late has been extremely fortunate. Having a safe and secure place where you can relax, exercise and enjoy the sunshine and the fresh air has been very welcome.
There will likely be many changes to the way we live through COVID-19, but what appeals to buyers and tenants will change. Given the benefits of having access to a garden at a time like this, you can expect this to become the leading demand for many tenants.
Gardens are appealing to tenants
Of course, having access to a garden is already a priority for many tenants and buyers. In 2019, Zoopla announced that “garden” was in the top three searches made by prospective buyers. When you consider “parking” and “garage” were also in the top three, there is an indicator that what is outside of the home is just as crucial as what is inside the house for prospective buyers.
Vendors should always pay attention to what buyers are looking for. When you know what a buyer wants to see, you have a better chance of connecting with them. Therefore, having a garden is going to be a key component of the sales process, and if you maintain your garden, you might improve the value of your house.
There have been studies into the importance of a well-maintained garden. It is believed homeowners can add between 5% and 20% in value to their property by making some necessary improvements to their property.
People love spending time in their garden
When you consider the average UK homeowner spends 114 hours each year in their garden, there is ample opportunity to make these improvements. Also, for 2020, there is a high possibility these figures will be even higher!
Moving forward, there is a chance that having access to a garden changes what people want in a home. There is already evidence that tenants are placing a greater importance on a garden, and the same is likely to arise in the housing market.
When it comes to where people are willing to buy, two key factors might change buyer demand. If more people work from home, there might be a greater desire to live in a rural setting. A spokesperson for Rightmove said; “Having a garden is often a rarity for many rental properties in larger cities, and so it may be that during lockdown people are rethinking their needs and location and are searching for some outdoor space and tranquillity. That allure may draw them further away from where they have habitually lived and travelled to work from, however.”
Gardens have long been important in the property market and rental market. However, as industries move forward, the importance of your external space is likely to become more prominent.
We know this is a challenging time, and for many households, the thought of buying or selling property is far from their mind. However, we also know many people are keen to keep themselves entertained, and some people may have property market issues. If we can be of any use to you, please contact Harpers Estates, and we will be more than happy to assist you.
