Here are 4 key tips for those considering such a project:


(1) Living space is key


Many developers look to expand square footage with extensions, basements and mansards on top of properties, but it’s re- ally important that the space is useful. Basements excavations are expensive and struggle with natural light. Owners of properties with large basements tell me they rarely use them, so think carefully about what functional living space you’re actually adding. Focusing on opening up unused space can be a good plan. Working out how a dysfunctional corridor or dead space can be converted in to living space can be highly beneficial. In one project we added 200 square feet to an apartment, purely by freeing-up difficult to access dead space and creating a fabulous master bed- room suite with a substantial bathroom and walk-in wardrobe. Te property sold very quickly at asking price.


(2) Understand your buyer


Te more changes most people make to their home, the more specific the property becomes to their taste. Tis can have the opposite effect to the one desired, which can make the property more difficult to


sell. Te question I ask estate agents the most is “what type of stock do you need at the moment”, ie. who is buying and what are they looking for? Experienced design- ers can then tailor a property design to the type of buyer who is most likely to want the property. A few years ago we acquired the top floor of a Kensington town house with beautiful views across Chelsea, Knightsbridge, beyond and Canary Wharf. Te challenge was a five-storey walk up with no lift. We didn’t expect the property to sell to an older resident or to couples considering a family due to the stairs. We designed the property around 1- 2 single professionals, with an ultra-mod- ern feel, state of the art technology throughout, plus a colour scheme and room configuration that made the most of the fabulous views. Te property was snapped up by two Italian consultants working in London for the long term.


(3) Create the right impression


Property purchasing is usually an emo- tional decision which is justified by facts and logic. It’s not enough for the property to be functional, in the right location and at the right price. Every property needs 1- 2 ‘wow factors’ in order to sell quickly, but herein lies a problem. A wow factor poses


Elliott Dexter, Chief Executive of Kensington Dexter can be contacted by email at elliott.dexter@kensingtondexter.com by telephone on +44 7801 555 389 or at www.kensingtondexter.com


24 FOCUS The Magazine September/October 2018


the risk of also being a ‘Marmite factor’, where 50% love it, 50% hate it. If you’re not careful that feature wall, piece of art or expensive concealed pocket door will have cost you half of your target buyers. Getting lots of opinions to balance your own can be helpful, but be careful who you ask. Do they understand the local market? Are they your target buyer demographic?


(4) Work with local experts who you can trust


Local professionals you’ve known and worked with before are best. I appreciate that many people will only do one or two renovations in their lifetime, maybe in dif- ferent cities, so this may not be possible. In this case, take care to understand how everyone you work with benefits from your project. It’s all too easy to get carried away by an enthusiastic designer or an ambitious builder whose incentives are not aligned with yours. While expanding the scope will always be good for their pocket, is it good for your sales price? Working with local trusted market experts will help you nego- tiate this issue. Most importantly don’t rush in to any-


thing. Take your time and get the right ad- vice, be wary of those putting you under pressure to get on the market quickly or to do more work than is needed. We’re pas- sionate about renovations and love London. We’re happy to talk to anyone about their renovation on a complemen- tary basis. Other designers and project managers should offer the same service too.


www.focus-info.org


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