9 ways to add value to your property
We all want to add value to our properties. However, it isn’t always the intuitive property changes that add the most value. In this articles we will focus on the changes that will help you maximize the sale price of your property.
- Fix Any Structural Problems
Before you consider what cosmetic improvements or additions you could make, be sure to investigate structural problems and repair them if possible. Superficial additions like new kitchens, flooring, bathroom fixtures, lighting and furniture can distract potential buyers but will not mislead a valuer.
Structural problems include:
- A collapsed slab/floor
- Bowing walls
- Pest infestations
- Missing roof tiles
- Rising damp
- Rotten roof timbers
- A leaking roof
These problems all have solutions, albeit expensive ones. If you can spare the expense, they will be essential in increasing the value of your property. It’s important to solve these problems first as they will take longer than anything else on this list.
- Update Central Heating
Updating (or adding) central heating is guaranteed to add more value to a property than it will cost. Most bank valuers and new buyers will consider this crucial. And conversely, adding a modern WiFi enabled system (such as Nest) can attract buyers who are looking to spend more on quality and luxury.
- Fix Any Superficial Defects
Minor surface defects should not directly reduce your property’s value. However, they have an aggregate effect on buyer interest and two or more of these issues could make your house sell lower than it has to. A prospective buyer might be deterred by the prospect of fixing these, but you shouldn’t be. They’re relatively inexpensive and most can be resolved by a confident DIYer.
Examples of superficial defects include:
- peeling paint;
- broken door latches;
- dripping taps;
- sewer smells;
- cracks in the plasterwork
- mouldy tiles and grout in the bathroom
- squeaky door hinges (the quickest and cheapest thing to fix)
- Replace windows with double glazing
New PVCu windows will add significant value to any property, provided the house is not a highly valued period property or historically listed. For most families with average budgets, double glazing is considered essential. They reduce heating costs and are often both cheaper to maintain and more secure than pre-existing windows.
- Renovate the Kitchen
A hygienic and attractive kitchen makes an incredible difference to how excited a new buyer will be to move into your home. If you think your kitchen could do with a makeover, or even replacing, first think about basics like position and shape. Repairing a kitchen can be done for quite a small investment. But if the basic location and skeleton of the kitchen is good, you can resurface cupboards, bench tops and cooktops, and make double your money back when you sell.
You can purchase new kitchen fit-outs for less than £2000, but for a higher value property, you should invest more in higher quality units, white goods and draw runners. If you only do one thing to improve your kitchen –big or small, budget or bespoke – ensure the kitchen has adequate lighting. Complement pendant lights with under-unit halogen bulbs that create a much brighter light.
- Renovate your bathroom(s)
Like kitchens, any good bathroom should look hygienic, attractive, and be adequately lit. A shower unit is important to all buyers, and existing toilets and sinks that are chipped, stained, or of an unpopular colour can be replaced for a few hundred pounds. Flooring should be clean, fresh-looking, and even, with no signs of mould or warping.
- Brighten up your garden
A well-designed, neat and lush-looking garden can add plenty of value, and accounts for a big part of prospective buyers’ first impressions as they step out of the car. Consult with a designer for ideas, then draw up the plans yourself. Mature trees add an impression of privacy and seclusion which increase the value of your home. Even without doing any landscaping, you can maintain what you do have to its personal best. Start making a serious effort a few months before you expect buys and valuers to come through, in order to feed and prune plants to have them looking at their best. Just prior to the first inspections, plant some flowers to add interest and a splash of colour.
- Make your house unique
As long as they’re in good taste and not too eccentric, one or more distinctive features in or outside your house can be an excellent way to distinguish your house from similar houses. A few really inspired and well-suited pieces can make the old and shabby aspects of the property feel historical. And in a modern home, these will give it a sense of character that can otherwise be lacking. Hand-made raw timber furniture, a claw-foot bathtub in a large master bathroom, a deck, or a functional fireplace will all raise your valuation while making it more likely that buyers will remember your property as they make the rounds. Always work with, not against, the size and period of the property. The higher your house’s value, the more these additions will profit you.
- Cosmetic enhancement
Here are some simple steps to raise the ceiling on your potential value:
- repaint inside or outside,
- invest in new lighting fixtures,
- make your storage areas look more functional,
- tear up the carpet and add wooden or bamboo floors,
- clean windows,
- replace a few key items of furniture (you can even hire expensive furniture for the viewing period), and
- buy fresh flowers
If you can improve the aesthetics of your house compared to every other house in your street, then as long as it is in good shape structurally and not in need of any major repairs, redecorating can add between five and ten percent to your property’s value.
Source Website: The House Shop