When you’re house-hunting you probably notice that houses and flats that are located near to public parks or other open spaces have something of a premium attached. This extra cost might dissuade you, but you should stop and think for a few minutes about the benefits that living near a park can bring to you and your family.
According to the Royal Institution of Chartered Surveyors (RICS), a property next to or very near to a public park can sell for as much as 19% more than a similar property further away. For bigger open spaces, or for parks with more amenities and events, this premium can be even higher.
It’s not just about the money
You might wince at this premium if you’re buying, but having your home near to a park can pay off in the long run. Living near an open green space can help you to stay active and fit, so you may finally get around to ditching that expensive gym. You could also make new friends there, especially if you have small children. Simply by being near to green spaces you’ll be improving your mental health, as well as being shielded from the worst of the pollution a town or city can throw at you.
You could also opt for a slightly smaller house than you would have originally done, or one with a smaller garden, as you can take advantage of the open space that the park offers you. Picnics in the summer, walks through the snow in the winter, kicking leaves in the autumn – it all makes returning home to a few square feet less that bit easier to bear.
When it’s time to move on
You were attracted by the space and didn’t mind paying the premium, right? Well, neither will the people who buy your house when you come to sell it. You can use the park as a big selling point, too, especially if it’s well-known for community events and festivals. A local park brings a community together, which can only encourage people to move into the area.« Back to Latest News