How To Increase Your Home’s Value Before Marketing
From minor improvements to large extensions, here are some recommendations on how you can increase your chances of selling in an unstable market.
We recommend that you start by researching the target market. There is no point in doing a lot of work on your property if it is not going to add any value to the selling price. A bit of online research will help you figure out the type of buyers interested in your type of property like a young family or a retiree. Figuring this part out will give you a clearer idea of what changes and improvements you should make to attract potential buyers.
Is your home’s exterior presentable? Remember, first impressions make lasting impressions. So, it is essential to ensure that the front of your home or property is attractive and easy on the eye with gutters cleared, windows cleaned, and grass and hedges trimmed. How well a property appears from the road is what’s known as “Kerb Appeal”. If you are looking to give your front door a fresh new look, Country Living found out that 2019 is the year of boldly-coloured statement doors, with the colour purple being the most popular. For inspiration, scout your neighbourhood to see how your neighbours have prepared their homes.
Do Not Forget The Hallway
Homeowners tend to forget their hallways when selling. Hallways are usually cramped, narrow spaces for coats, shoes and general items, however, considering that it is the first space a buyer sees upon entering your property, hallways hold more importance than they are given credit for. Consider painting your hallway a pale colour to maximise on illumination and place a mirror to create an illusion of more space. Try putting your coats and shoes in discreet storage spaces to limit visible clutter.
One of the best ways to add some square footage to property is by converting a loft. However, make sure that you seek advice from an architect or surveyor for a land registry compliant plan and remember that building regulations are required.
Research suggests that loft conversions can increase the selling price by up to 12.5 percent. Add an ensuite bathroom, and you will have created a private master bedroom – something that’ll likely add more value than what it will cost to complete the conversion.
If you have a garage that you don’t use, an unnecessary wall, or a spare room full of unwanted items, then consider turning it into selling points. Cluttered spare rooms could be transformed into studies or a snug while an unused garage can be converted into a workshop or home office. If that extra wall is not load-bearing, you could knock it down to create more open space. And the great thing about these options is that they are not that expensive but will add lots of value to your property.
Bathrooms and Kitchens
According to NAEA (The National Association for Estate Agents), if your budget is only able to cater for the renovation of one room, then that room should be your kitchen. The kitchen is one of the key areas most buyers consider; so if you cannot afford to upgrade a tired-looking kitchen, then consider simply painting or replacing cabinet handles or doors, decluttering the worktop, and making sure it looks spick and span. The same does apply for bathrooms. If you are not planning on changing any of the fixtures, then simply replace the old taps with new ones, adding towel racks, and freshening up the grout.
For inspiration, consider watching home renovation programmes presented by property experts like Kirstie Allsopp and Phil Spencer to get invaluable advice. Your local estate agent should also be able to provide you with some useful tips after he or she has valued your property, or you could contact an architect or surveyor for a fresh perspective on your property.