If you are looking to sell your home, you want to be sure that you can get top dollar for it. Not only will that put more cash in your pocket, but potentially it will give you more to play with when it comes to obtaining a replacement property.
Fortunately, there are lots of different things that you can do to increase the value of your home. Some are big changes that will require investment, and it is important that you make sure that the value they will add will outweigh the costs involved. Others are much smaller, simpler and incur little or no cost at all.
Big changes to increase the value of your home
If you have some time before you want to put your property on the market, then you may wish to consider some of these recognized methods of increasing the value of your home.
Converting your cellar or attic space
Experts estimate that transforming an existing cellar space into a room for living or useful storage can add as much as 30% to the value of your home – just as long as the build cost per square foot is less than the price per square foot of the area. If you don’t have a cellar, you could consider digging down to create one or converting your attic space. Just be sure that you don’t need any planning permissions and that the estimated value added to your property is significantly more than your costs.
Replace your kitchen or bathroom
Kitchens and bathrooms are widely considered to be the most valuable rooms in your home in terms of boosting the price of your property. If either of yours are looking a little tired and in need of modernization, it could be a good idea to get this done before putting your home on the market. Studies have shown that a new kitchen or bathroom could offer around a 50% return on the initial investment needed to buy and install them. This may not seem a huge amount, but it is also important to think about the saleability of your property. A tired, dated kitchen or bathroom could make your home less desirable and this could lead you to experience lower offers and a longer time on the market.
Make your home energy efficient
Green living and energy efficiency are hugely important to many people who are considering purchasing a new property. For this reason, it can be beneficial to invest in steps that will make your home as energy-efficient as possible. You probably aren’t going to see much return on something like getting solar panels installed since it is a costly business. However, adding insulation to attic space, ensuring windows fit properly and that your boiler is in good condition will all add to the energy efficiency of your home.
Small changes to increase the value of your home
There are lots of small, simple things that you can do that will both make your home more appealing and help you achieve the maximum value possible for your property. These include
Sorting out the exterior. Kerb appeal is very important and if your home looks unkempt and uncared for from the outside, you may not even get people through the door. Weed your garden, paint the fence and make sure that your place looks neat and tidy from the roadside.
Create space. Space sells and the more of it you have, the greater the value of your home. You can create the illusion of more space by eliminating any clutter and putting any unnecessary furniture in storage. Don’t forget to remove junk from fixed cupboards and closets too – your potential buyers may wish to look in there to see how much storage your home has.
Get fixing! It is completely normal for things to need fixing from time to time. If you are planning on moving it can be tempting to leave them, but if they are spotted by a potential buyer, it could be a red flag that causes them to put in a lower offer on your home. Whether it is a broken draw, a cracked tile or a smashed switch, get it fixed.
Clean everything. Many people choose to get a professional agency in to clean their home from top to bottom before the promotional photos of their home are taken for marketing. Stay on top of the housework and keep it gleaming. You should even consider bringing in a carpet cleaning company to deep clean your floors. A clean house is a much more desirable house.
Freshen up. Painting is a fairly inexpensive and easy way of brightening up tired rooms within your home. Use neutral, light colors to maximize the amount of space there appears to be in each room.
For more tips on the best ways to increase the value of your home, or to arrange a home value appraisal by one of our experienced realty team, please contact our offices today.