Can Feng Shui Impact House Prices?
How you present your home to the market is important. The look of your home can impact its value, and even if buyers are willing to make an offer on your home.
At Crown Estate Agents, we are pleased to say we have helped many homeowners connect with buyers. If you are looking to sell your home effectively, design matters, and one particular style has been discussed a lot recently.
What is Feng Shui?
- Feng Shui is the ancient Chinese practice of arranging your home to promote good luck and abundance
- It was originally used in homes, but can be applied to other places like offices or even cars
- The goal of Feng Shui is to create a space that promotes happiness, health, and prosperity for its inhabitants
- There are 3 main principles behind Feng Shui – Chi (energy), Yin Yang (opposites) and Ba gua (8 trigrams)
- The way you arrange furniture in your living room should take into account these three principles so it’s balanced with the outside world
- For example, a couch on one side of the room against a wall will block chi from flowing freely through the front door
Design and layout matters in the property market
Research carried out by Manor Interiors suggest that 86% of property buyers said the initial layout and design of a property is important to them. Other findings include:
- 70% of respondents said this influenced their most recent property purchase.
- 38% of respondents said they made further changes to their new home as soon as they moved in.
- 72% of respondents said they paid more for their home because they liked the design and layout.
- On current market values, Manor Interiors believes a Feng Shui premium could add as much as £19,743 to a property value, based on the current average value being £256,405.
- They also believe a negative Feng Shui state could reduce the property value by as much as £25,641
- Manor Interiors state the difference between good Feng Shui and bad Feng Shui in a home as being as much as £45,384
Looking to add value to your home?
Separate analysis from the International Journal of Housing Market and Analysis states positive Feng Shui could add as much as 7.7% value to a home, while poor Feng Shui could lower property value by 10%.
Farhan Malik, CEO of Manor Interiors, commented: “While you may or may not be completely convinced by Feng Shui, there’s no doubt that many of us will relate to the core principle of perfecting the design and layout of our home if only to suit our own personal tastes. Doing so can transform how we think and feel about our home and so it can certainly make for a happier home life and a greater appreciation for our property. It’s also understandable that this plays a role when looking to buy, both in terms of the homes we opt for and the price we’re willing to pay and research shows that positive Feng Shui really can have a substantial impact on property market values.”
Farhan Malik also said; “Whether you buy into it or not, it’s a particular focus of many housebuilders who market new build developments to foreign buyers where Feng Shui is deep-rooted within the culture of their native country. When furnishing these developments, we often have to consider how the furniture and layout of an apartment or house will not only impact the Feng Shui but also how we can maximise positive energy to increase appeal once it does go up for sale or let.”
If you plan on selling your home, get in touch and we will discuss our range of property management services with you. With offices in Ropergate and Pontefract, you will find Crown Estate Agents is ideally placed to assist you, so get in touch today.