Can Art Increase the Sale Price of Your Property?
By Daniel Lee-Jacobs | 3 minute read
If you’re planning on selling your home, then knowing how to add value to your property to achieve the best return on investment is crucial.
Larger house projects such as converting the loft, updating your bathroom or renovating a kitchen might be the most obvious choices for adding value, but one shouldn’t overlook the value that can be added through simple cosmetic changes.
Prospective buyers form an opinion on your house within the first 7-10 seconds of stepping in the front door; but many won’t even step foot past the threshold if your listing pictures don’t grab their attention! Making a great first impression is vital in earning favourable valuations from agents as well as buyers.
So how does art fit into the picture?
It might sound like a cliché, but people are often buying into a lifestyle as much as a property. People want to walk into a property and imagine themselves holding dinner parties or settling in for a relaxing evening with family.
Furnishing your home tastefully before selling allows potential buyers to imagine themselves in that setting all the more easily. And whilst you might not imagine it, artwork plays a big role in creating a homely and complete look to your living spaces. It adds colour, texture, intrigue and gives a home personality.
Poppy Peace, design manager at Milc, which furnishes properties that are up for sale and for rent, says:
“We would never furnish anywhere without artwork. Without it, it simply looks unfinished. We recently had a property that was on the market for a year until we furnished it with art and it sold within weeks.”
Artwork from David Magee
This comment isn’t unusual and in fact echoes the success of home staging as a whole! According to research by the National Association of Realtors “a staged home will sell for 17% more on average than a non-staged home, and 95% of staged homes sell in 11 days or less. That is statistically 87% faster than non-staged homes.”
Buying a home is an important milestone, often representing a step forwards in a person’s life. Along with this step, they hope for a more sophisticated and beautiful living environment.
If you can show buyers a lifestyle which is attractive, something that perhaps they don’t have as yet, it can create a feeling of desire which ultimately results in an offer.
Art in particular has very special connotations which can help project this improved or desirable lifestyle. The arts are associated with culture, class and affluence and so by virtue of displaying artwork in one’s home, similar associations are drawn.
Photo Credit - Run for the Hills
But which artwork works best?
Whilst you should never be afraid to buy artworks based on your personal tastes, ultimately when it comes to what to display when selling, it’s a fine balance between demonstrating character and making it too personal.
Whilst some property experts might tell you to hide all personality, whether that’s family photos in the hallway or your kids’ artwork on the fridge,it’s still important that your house looks lived in (rather than like a sterile hotel), so potential buyers can see its potential as their home.
It’s best to display artwork subjects which are more universally popular – such as abstracts or landscapes. Steer away from political statements or controversial subjects which might create a marmite reaction among viewers.
Rather than having the artwork dominate the room, make sure it ties in with its surroundings with the colouring, size and frame choice (check out our guide to matching artwork to your interior décor for more inspiration).
You might find that a couple of hundred pounds spent on some quality limited edition prints can speed up your sale and guarantee that asking price!
Photo Credit: Fiona Barrat Interiors