Look For A Home Close To A Supermarket For Good Investment

Homebuyers who are looking for their dream property would do well to prioritise residences that are close to supermarkets, as these areas provide significant premiums for property owners.

According to Lloyds Bank, houses near superstores sell for an average of £21,500 more than homes in the same area that are not close to shops.

Therefore, even if your budget cannot stretch that far, it could be a worthwhile investment to purchase a house that needs a bit of work doing to it, so long as it is in the prime location to benefit from a premium price when you come to sell it.

Andy Mason, mortgages director at Lloyds Bank, said: “It’s easy to assume the effect of different factors on the value of a property but this research clearly shows that there is a significant link between the convenience of a local supermarket and house prices.”

Those living near a Waitrose benefit the most, as these properties can expect to sell for £43,571 more than homes further away, amounting to a premium of 12 per cent.

M&S and Sainsbury’s are also incredibly popular with homebuyers and boost house prices by £40,135 and £32,707 respectively.

What’s more, low-cost supermarket chains are also adding a premium to property values these days. While in 2014, being close to an Aldi caused prices to drop by £3,586, they now boost prices by £2,301.

Those living near Lidl can also see their house sell for £5,411 more than other residences in the area.

While it can be tempting to buy a house that is already renovated for the same price as a property close to a supermarket, you have the potential to earn more from your investment if you prioritise the location over the state of the house.

Some of the simplest ways to bring your home into the 21st century include repainting, buying modern lights and fittings, and opening up living spaces for an open-plan feel.

Our decorators in Cardiff can help you with your renovation plans.

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