After 19 years working on Location, Location, Location with Kirstie Allsopp, it's fair to say Phil Spencer knows a thing or two about buying and selling property. And now the TV presenter has revealed how you could boost the value of your home by as much as £5,000 – without even spending a penny.
Rather than investing in expensive renovation work or home extensions, Phil's tip is simple and involves little to no effort. It may sound too good to be true, but he says increasing your home's value could be as easy as giving it a name.
© Photo: iStockGiving your house a name could boost its value
"Giving your home a name can be the easiest way to add thousands of pounds to its value, research shows. Regal-sounding names such as 'Crown Cottage' or 'Clarence Estate' are popular with buyers, while pastoral names such as 'Harvest Lodge' or 'Owl Corner' evoke a rural setting," Phil told This is Money.
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The Love It or List It host added: "You must contact Royal Mail and your council to formalise the change, which is normally free, and ensure it is locally unique. It's best to keep a number as well."
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Giving your house a name is an effective technique that may help to attract new buyers, and is a clever way to add character or a personal touch to your property. You could take inspiration from the local area and the property's history, or add a sentimental touch with a nod to your family or something else important to you to help your house stand out from the crowd.
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Before you invest in a shiny new sign for your house, contact your local council who can ensure your chosen name hasn't already been taken. Once your chosen name is accepted, remember to update the details with any utility suppliers, bank accounts and your GP, as you would when you move house.
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