Have you ever thought about how you could increase the value of your property in preparation for a sale? You might have chosen not to move and have plans to improve instead.
If so, do you know what improvements would best increase the value of your property? It’s a common question to which most of us would have an answer. However, do we have the right answer?
Some changes, such as installing an expensive modern kitchen, add less than they cost to complete. Other changes, like installing a hot tub or swimming pool, can often reduce a home’s value and its appeal.
Here are 5 useful tips to increase the value of your property
1. Decorate
You might think that a potential buyer will have their own ideas on decoration and they probably will. However, they would much rather see a clean, decorated, smart house when they are searching for their new home. So, why not invest in some neutral colour paints, brushes and rollers and spruce up the house? Remember, a potential buyer will try to quibble on the price if they can justifiably say to the seller ‘This needs a lot of money spent on decoration’.
2. Double Glazing
We all enjoy privacy and warmth. If you havent got double glazing, you should seriously think about investing in it. Estate agents insist that new double-glazed windows will increase property value and make it more ‘sellable’. However, make sure you have the appropriate windows fitted. If you have a period home and fit modern plastic windows it could have an adverse effect and cause buyers to try and reduce the price.
In a report by This Is Money last year, one estate agent said they’d sold an Edwardian terraced cottage property for £40,000 more than was predicted two years ago. All the owners did was replace single-glazed windows with wooden framed double-glazed windows. It cost them £18,000
Estate agents reckon that double glazing can add up to 10 per cent on to the value of a home.
3. Faster Broadband
With so many people choosing to work from home and with deadlines prevelant, throughout business, fast, efficient Broadband is crucial. A study involving 3,000 would-be buyers by website Rightmove, shows that people avoid properties with sluggish broadband provision.
Superfast broadband means you can stream TV, music or data without delays, with all members of the family using it at once. In today’s world Broadband is now considered the 4th utility, behind electricity, gas and water and is an important factor when deciding where to buy a house.
4. Extension or Conservatory
A well-planned extension and or a conservatory nearly always adds value to a property. However, first, you should look at house prices in your local area to gauge just how much value another bedroom or a conservatory will add. You may also think about changing your internal layout. Moving a wall (that’s not load bearing) may be a cheaper way to create additional space.
If you are planning any of these, remember to factor in the possible cost of a small self storage unit to house your valuables and belongings while any work is being completed. After all, with workmen trapsing in and out of your house, there is a real possibility of things getting damaged. Store them in a self storage unit, on a short term basis, and all with go smoothly.
5. Gardens
Whatever happens, don’t sacrifice your entire garden for the sake of an extension. This can actually reduce the value of your home and ultimately, put off potential buyers.
Yes, the extra room is nice, but so many of us enjoy a good barbecue, garden party and to sit out when the sun shines. Outside space is always desirable for future buyers. So, get the balance right.
Have you added an extension or conservatory and seen the value of your property increase? Have you ever made a change to your property that didn’t result in the expected increase in value?
Image Copyright : David Hughes