Here are our top 10 tips to consider when trying to increase the value of your home. The tips are in no particular order - as some of them may be easier than others to for you to implement, and depending on the property, others some can have a bigger impact than others. It’s always important to consult experts before committing to any major expenses - we’re always on hand to help point you in the right direction. However, tips 4 and 10 will apply to every property and are often easily to complete.
1. Upgrade your kitchen
For the vast majority of home buyers, one of the first things they will look at is the quality, age and style of the kitchen. The kitchen is the ‘hub’ of the modern home, and if it’s dated most home buyers will automatically discount the value of the property to account for the cost of an upgrade. Unlike replacing carpets or decoration, the cost of the kitchen buyers are accounting for is something that is often over inflated because they know it’s a major expense. By investing in a new kitchen, you’re taking control of the cost and increasing the chances of buyers not having to think about it. Remember though, when choosing a style, don’t over personalise. To get the best price, think about what your target market is looking for in a kitchen and remember this when making your choices.
2. Upgrade your bathroom
Similarly to point 1, bathrooms have the same effect on potential buyers. If you get your kitchen and bathroom right, you’re well on the way to achieve a top-end price. However, it it comes down to making a choice due to a limited budget, refreshing the bathroom is often a lower cost process.
3. Create a new bathroom and downstairs toilet
A en-suite or convenient downstairs toilet is almost always a winner with potential buyers. Do you have sufficient space under the stairs to create another loo? Or a bedroom you can reconfigure to accommodate an en-suite. Changes like this have the potential to add 6% to the value of a property.
4. Tend to the garden
This is an absolute must! When selling a property, in order to achieve the very best price you need to avoid creating ‘hassle factors’ for buyers. One of the most commonly overlooked areas is the front and rear gardens. A beautifully landscaped outside space adds so much potential to a property and is well worth the investment. At the very least, ensure the space is tidy and weeded.
5. Add an extension
Adding an extension that increasing floor space, improves the layout, usability and image of a property can add a lot of value - often around 20%. However, it isn’t an exact science. A badly done extension, cramming bedrooms in at the expense of usability for example (an all to common mistake) can have the opposite effect. As this is one of the most expensive undertakings, seeking the advice of the best architect and estate agent in your area will help you construct a plan that will be most appealing to your target market, whilst also ensuring it is making maximum use of space and style.
6. Convert the loft
Making use of existing and unused space and turning it into bedroom or living accommodation is a great way to add value. One of the best ways to do this is by converting your loft space, and often with a lower cost to typical extensions - it’s an easy way to open your property up to a new market. For example, in most areas there is a big jump in values from 2 to 3 bedroom properties - as 3 bedrooms are more likely to be suitable for accommodating a family. 7. Reconfigure the layout
Providing there are no structural issues, knocking walls down to open up spaces can be a hugely cost effective way to transform a property. Increasing usable square footage can be achieved easily by transforming small and awkward spaces into light, fairly and spacious living accommodation.
8. Be eco-friendly
We’re living in an ever increasing eco-conscious world and buyers are becoming more and more interested in the eco-friendliness of potential homes. Simply looking at your EPC, reading and executing some of the suggestions to make improvements will be looked favourably upon by buyers.
9. Create or restore a feature
Adding a feature, like a wood-burning stove, can give a room the ‘wow factor’. Or, you may already have features than could be given a new lease of life. Putting the time and effort into creating these unique selling points can help give your property the edge over others you are competing against in the market.
10. Get the basics right
A beautifully designed loft conversion with leaky windows and a saggy roof defeats the purpose. Your first port of call is getting the essentials done right: double-glazing, central heating, updating electrics, fixing a porous roof and layering in a damp-proof course are basic, sound investments.
If you’re thinking of selling your home and want further advice on maximising the value of your property, please give Hortons a call today.