Lighting adds £££s to property value
If you are thinking of renovating, selling or renting out a property, the results of several National and International surveys were released during 2017-18 and provide evidence that good lighting is an important factor in perceived property value, ‘kerb-appeal’ and buying decisions.
Good lighting can increase the perceived value of a property and helps prospective buyers and tenants to see themselves living there. Indoor and outside lights can provide a real wow factor at a fraction of the cost of restyling or redecorating and with the latest systems and technology, the running and maintenance cost savings can be significant.
Lighting trends emphasise the importance of choice vs. cost
- There is a huge appetite in new and existing homeowners for different and better lighting solutions.
- It’s official… rows of downlighters are boring.
- Homeowners are prepared to spend a big chunk of their home improvement budgets on lighting.
- Lighting trends to 2023 show the biggest increase in future consumption will be for eco and low-powered lighting. This is driven by increased environmental concerns and responsible electricity consumption and not by cost.
If you are thinking of renovating, selling or renting out a property, the survey results make interesting reading:
Homeowners want better lighting
- Home improvement project spend per household in 2017 is £38.8K, up 7% on 2016 and growing
- Lighting is the top planned purchase category for 2017 (at 35%) after painting & decorating
- 49% of homeowners in Europe & the UK rated outdoor lighting as an important factor in perceived property value, ‘kerb-appeal’ and buying decisions. These findings were endorsed by Rightmove UK.
- Property professionals rated adequate outside lighting as 4th in a list of garden features that significantly add value to property.
- Homeowners are frustrated that they can’t find the right lighting products and services. 69% or those surveyed said this was their biggest home improvement challenge.
If you’re not convinced of the cost vs. benefits to make these changes, potential buyers will certainly appreciate any contact details you can give them about where they can find the products and services they need to install great lighting.
For more information about the benefits, and options available, to improve your lighting, talk to us… because there’s more to light!