When it comes to determining what makes a property a 'premium' home, there are several key features and amenities that can significantly influence its desirability and, consequently, its market value. While the definition of a premium home can vary depending on individual preferences, some universally recognised factors play a crucial role in commanding higher sales prices.
Location matters
The old adage "location, location, location" still holds true when discussing premium homes. A desirable location is often the most critical factor in determining a property's value. Premium homes are typically situated in prime areas, whether it be an urban centre, a picturesque suburb, or a tranquil countryside. Proximity to amenities such as shopping centres, restaurants, entertainment venues, and cultural attractions can considerably enhance a property's appeal. Additionally, homes located in neighbourhoods with scenic views, waterfront access, or historical significance tend to attract higher sales prices.
Spacious and well-maintained garden space
A spacious and well-maintained garden can be a significant selling point for a premium home. In urban areas where outdoor space is at a premium, a private garden provides a sense of tranquillity and an escape from the hustle and bustle of city life. A beautifully landscaped garden can also serve as an extension of the living space, perfect for entertaining guests or enjoying family time outdoors. In addition to aesthetic appeal, gardens that offer privacy and seclusion can further enhance the property's desirability and value.
Excellent transport links
Accessibility is another vital component of a premium home. Properties with excellent transport links, such as proximity to major roads, public transportation hubs, and airports, are highly sought after. Easy access to reliable transportation options can significantly improve the quality of life for residents by reducing commute times and providing convenience for daily activities. For professionals who work in city centres or frequently travel, being well-connected to transport networks is an invaluable feature that adds considerable value to a home.
Good local schools
For families, access to good local schools is often a top priority when choosing a home. Premium homes are frequently located within the catchment areas of highly regarded educational institutions. High-performing schools not only provide an excellent education for children but also contribute positively to the community, fostering a sense of pride and stability. Properties near reputable schools typically experience higher demand, leading to increased property values and faster sales.
Low crime rates
Safety is a fundamental concern for any homebuyer, and premium homes are no exception. Areas with low crime rates are naturally more appealing to potential buyers. A safe neighbourhood offers peace of mind and contributes to a higher quality of life for residents. Consequently, homes in areas with well-established community policing, neighbourhood watch programmes, and other safety measures tend to command higher prices. Investing in a property in a safe area is not just about immediate comfort; it is also a long-term investment in the residents' well-being and the property’s sustained value.
Premium services and amenities
In addition to the location-based factors, the availability of premium services and amenities within the home itself plays a crucial role in defining its status. Modern, high-quality fittings and fixtures, energy-efficient appliances, and smart home technology can significantly elevate a property's appeal. Features such as underfloor heating, high-end kitchen appliances, luxurious bathrooms, and ample storage space are highly desirable. Furthermore, properties with unique architectural designs, historical significance, or eco-friendly features also stand out in the market, attracting discerning buyers willing to pay a premium.
A combination of factors makes a home 'premium' and drives its market value. A prime location, well-maintained garden space, excellent transport links, access to good local schools, low crime rates, and premium in-home amenities all contribute to creating a desirable and valuable property. Homeowners and investors looking to achieve higher sales prices should focus on enhancing these aspects of their properties to attract discerning buyers seeking a premium living experience. By prioritising these key features, you can ensure your home stands out in the competitive real estate market, commanding the price it deserves.
