Did you know that a posh house name adds value to your home, in some cases even up to £30,000!
A survey by a Mayfair estate agent found the best addresses can add as much as 40% to the asking price of your home.
Another survey, conducted by On The Market, found that up to £30,000 could be added to the price of homes with regal names. When a London estate agent chose to rename his Suffolk home to something more exciting, he unintentionally struck gold. “I changed it from the mundane Esher Cottage to the far grander Crown Cottage,” he says. “It was unbelievably easy and took just 24 hours.”
So can you call your home, for example, Highclere, as in the castle from Downtown Abbey? Probably yes – but you wouldn’t be the only one. A report by Royal Mail found 188 Highcleres, many of which are just your standard family home.
The most common British house names are rural, for example, The Willows (4,107) and Rose Cottage (11,308). But the Royal Mail’s research also shows that names follow modern culture trends as there has been a rise in the number of houses called Clarence (230), Balmoral (67) and Sandringham (133), since the Jubilee.
Renaming your house costs from £40 and can be easy, but there are rules. Your local authority needs to maintain gazettes of addresses to avoid duplication. Generally, names must not be tricky to pronounce or spell, advertise a business or be offensive. You can apply to change the name of your house via your local authority.
Around 7,000 names were agreed for housing developments last year. “A historical fact or feature helps communicate a sense of the life on offer before the homes are built,” says St James’ Managing Director. In other cases, developers want to forget the heritage of a place, many Victorian mental asylums have morphed into luxury apartment blocks with lavish names. Are the residents of ‘Princess Park Manor’ in London aware that it was once the Colney Hatch Lunatic Asylum?
Some people say that it’s unlucky to rename your house, unless, of course, you are going to market and fancy potentially adding £30,000 to your asking price that is!