When it comes to choosing a home in the post-pandemic market, the need for space has risen to the top of the buyer wish list, with a recent poll revealing that 84% cite adequate storage space as a must.
In a bid to find out just how much the nation values home storage, fitted furniture specialists Hammonds Furniture surveyed 2,000 Brits on how much more they’d be willing to pay for a home with lots of space to put their possessions.
According to the research, the average house-hunter claims that a home with ample storage space is worth over £12k more (£12,574) to them. However, for 7% - that’s four million Brits - storage is worth a lot more as they are prepared to offer £55,000 over the asking price for a home with the luxury of ample space to store their belongings.
Attitudes do vary by generation though – over 65s are the least interested in paying extra for storage space, whereas millennials (aged 25-34s) are prepared to pay the most.
Men also appear to value storage space more than women. When asked how much more money they would offer for a home with plenty of storage options, men revealed they are willing to offer £13,814 more than a property’s asking price where women will increase their offer by £2k less (£11,565).
Women are also more stubborn when it comes to sticking to the asking price. A quarter (25%) will not budge on price, whereas only 18% of men said they’d do the same.
When considering different types of storage, there are some options that are more valued than others. According to the research, a garage is the most sought-after storage option, with 42% of Brits prepared to pay more for a home that has one. Other top storage options that would result in a higher offer include a spare bedroom (42%), a large driveway (40%), and a utility room (40%).
If you want to increase the potential value of your home by integrating more storage solutions, experts at Hammonds Furniture have put together three top tips on how to do this without losing valuable floorspace:
1: Utilise all available space from floor to ceiling. Put shelves, cabinets or cupboards in that go all the way up to the ceiling. While the top sections may be tricky to reach, they’re the perfect place to tuck away items you rarely use.
2: Think about how you live and the items that you own before you invest in storage. If you’ve got a lot of shoes, then an understairs unit that neatly hides these away could be perfect for you. If you’ve got lots of books that you regularly use, then you’ll want some shelves putting in at an accessible-height – alcoves can be the perfect place for these.
3: Maximise awkward spaces. Every home has areas where you can’t really put furniture in, but you don’t want to waste the space. Integrating bespoke fitted storage into these areas can help ensure every square meter is being optimised.
Kirsty Oakes, Head of Product and Marketing at Hammonds Furniture, concludes: “When looking for a new home, making sure you have enough storage space is clearly a big priority for many. In fact, our survey showed that for some, it’s considered essential.
"If your home doesn’t have ample storage space, you may consider altering lesser-used spaces, such as rooms with sloped roofs or adding under stairs storage. There are lots of different storage solutions out there, such as wardrobes for awkward spaces, and installing these can be a great way to offer more room for your things and add value to your home without losing ‘living’ floor space.”
