We all know that one way to boost the sales value of our home is to make it look its best. However, whilst giving the garage a lick of paint and popping down some new carpet are quick affordable wins, substantial investments into your home can really boost valuations should you choose to sell in the future.
The majority of extensive home improvement projects can add around 5% to 30% onto the value of your home. The general rule of thumb is the lengthier the renovation, the more added value you receive.
Whether you are a property investor or residential renovator, the projects below could boost the value of your property significantly.
Has your property suffered any structural problems? If so, this should become your priority. Get your house in order, literally. One property expert suggested that for anyone looking to add value to their home before they look to sell it, is to make sure the house is in pristine condition. Whether this means fixing a leaking roof, replacing broken roof tiles or even hiring an exterminator to get rid of that unwanted insect infestation.
It may seem futile and expensive at the beginning, but it will all be worth it come valuation day!
It may be seen as a dull and mundane task and not the top of your ‘To – Do’ list, but getting your utilities up to scratch can be an excellent way to add value to your property.
Replacing the electricity may be essential if you have owned the house for numerous years and never got around to changing it before. Consider having the property rewired and having a modern consumer unit installed with an RCD (residual circuit device) for safety precautions. Homeowners should also look at installing extra sockets too, especially in the digitally driven world we live in.
Like with the electricity, it may be worth having an expert in to look at the plumbing and pipes in your property before selling. Longstanding pipework can lead to a poor flow of hot and cold water, it can also be a road to knocking and rattling in the pipes, which means a burst pipe isn’t far away. A pressurised plumbing system could be the way to go.
One leading company in the sector carried out a study involving 3,000 would be buyers, which suggested that they would avoid properties with poor or slow broadband connections. Now nicknamed as the ‘4th utility after gas, water, and electricity. The quickest broadband is delivered through fibre-optics and gives you instant uninterrupted connectivity. A specialist in the subject has stated that ‘broadband has become in-built in people’s lives and has a tremendously important part to play in the decision process when it comes to looking at properties. The right connection could land you as much as 5% increase on your property.
Double Glazing windows have become a must for homeowners looking to buy, so if your current windows aren’t, it might be wise to consider getting some installed. It will only add to the value of your property in the long run.
Parking can either be a luxury or a constant nightmare, depending on where you are looking to re-locate too. As a property holder looking to squeeze as much as possible out of your house valuation, think about the parking options your house presents. Is it possible to create another parking spot in your driveway, even if it means making the front garden smaller? Something to think about. But make sure to check you are eligible first! You can check ownership at HM Land Registry for a small fee.
Depending on your time frame, a simple loft conversion could be a neat way to go about raising not only the profile but also the value of your home. Loft conversions can range in price depending on the design but does guarantee an extra room you can add onto your house details when it comes to selling.
Anybody with a redundant cellar or basement would benefit greatly from this renovation project as it provides the greatest potential return. Changing a cellar into a liveable space, such as an extra bedroom or children’s playroom, is considered a ‘change of use’ and there is no need to obtain planning permission from the council for this type of conversion. The council would only need to be contacted if a kitchen was being fitted.
Side return extensions are one of the most common domestic building projects and are mostly used by people wanting to extend their kitchen or input a utility room. Both options are extremely attractive to potential buyers and could add an additional 15% on to the value of a home.
If you don’t have the money to invest in your home, obtaining planning permission will boost the value of your home up to 10%. Whilst there is usually a fee involved, it is less expensive than building projects and is free if your home is a listed building. Many buyers will pay more for a property already granted planning permission as it saves them from completing the process themselves and potentially being knocked back.
Whilst a modern conservatory that leads out onto a garden can boost the value of a property by up to 5%, double story extensions which create a conservatory and additional room above can increase this to 10%. Another bedroom or study is a popular choice.
Exterior and garden improvements
Kerb appeal is a real thing; would you consider buying a property with a worn front door and weed-infested front garden? Whilst buyers could sort these issues themselves, it will knock down the price they offer you.
Making sure your windows are clean and the exterior of your home is fresh and tidy is key. Along with mowed lawns and neat flowerbeds, you could see your efforts adding up to 10% to your property.
Open plan living
Open plan living spaces are the ‘in thing’ and buyers are willing to pay extra to save themselves from knocking down walls and getting the builders in. Open plan living spaces make spaces appear larger and lighter – undoubtedly an attractive feature to many buyers. Opting to make your living spaces open plan can top up your sales value by 6%.
Bathrooms with tired shower curtains or avocado suites are a major turn-off for potential buyers and estate agents will chip cash off the valuation they give you. Whilst bathroom revamps can be expensive and interrupt life, a modern suite will add up to 5% on the sales value of your home.
The little things to consider
Have you ever thought about the colour of your front door? And have you ever thought about how the colour of your front door could impact the price of your house? A top housing company carried out a project involving 30,000 sold homes in 2017 and found that the colour blue was the most common and attractive to new consumers. Blue relates to calm and peace of mind, which is linked with making clear decisions you’re happy with.
If you think your property could do with a spruce up and a new lick of paint before valuation day, make sure you do it! It’ll be vital when it comes to being valued.
Think about removing some of your furniture and belongings when it comes to viewing day, potential buyers want to see the house’s DNA in full, which can become hard if your prized set of golf clubs are in the corner of a room.
Does the inside match the outside?
There’s nothing worse than seeing a modern house from the outside and then to find it looks more 70’s when you walk through the front door. Let your creative side get the better of you for the day, consider replacing taps, cabinet knobs & door handles.