5 Ways to Increase the Value of Your Home
For the first time in recent memory, the housing market is starting to cool. Sellers no longer have the bargaining power they once enjoyed. So, if you’re selling your home, that could potentially impact the price your property can reach. Bearing that in mind, it’s a good idea to try to increase the value of your home as much as you can before putting it on the market.
Tips to improve your home’s value
There are a number of ways that you can maximise your property’s value:
1. Make your garden a selling point
Your garden is often the largest room in your home, so making the most of it can really be a massive draw for buyers. You don’t have to be green fingered or hire a landscape gardener to give it a total overhaul. Instead, if you simply tidy it up, clear back any overgrown vegetation and make it look like another living area – perhaps with a table and chairs – you could be on to a winner.
2. Add a room or two
By adding a room to your home, you should immediately add value. That could mean an extension, but there’s also the option of converting a garage to maximise on living space. Or, you could go up into your loft and convert it to make another bedroom, perhaps with an en-suite bathroom. TV rooms in cellars are also becoming increasingly popular. Planning permission may be needed for any of these, so factor that into your timeplan and budget. Some sellers often remortgage their property to fund any pricier extensions or conversions.
3. Give your frontage a makeover
One way to help ensure you get the best price for your property is by having many interested buyers. To increase the chances of that happening, improving the curb appeal of your home can help. Having an attractive, well kept outside really sets the tone for all viewings your property has – and piques a buyer’s interest before they even set foot inside. Giving the best first impression, by tidying up your property’s frontage, you’re more likely to make a positive impact on more people from the start.
4. Redecorate your kitchen or bathroom
If a kitchen and/or bathroom needs gutting in a property, buyers are less likely to make an offer, let alone make an offer at asking price. Yet, if these rooms look great, buyers are often happier to pay a little over the odds for a home. Redoing your kitchen or bathroom has therefore long been seen to be a good way to increase the value of your property. You could also look at the design of your downstairs layout too, if you are thinking of renovating your kitchen in particular. Open-plan living has been popular for a while now, with buyers more attracted to the style of a kitchen diner.
5. Make it more energy efficient
Finally, buyers are now far more aware of a home’s energy efficiency. Properties with Energy Performance Certificates (EPCs) that identify poor energy efficiency may act as a red flag to buyers – making them less likely to offer asking price or above. Consider making amendments that may make the EPC better. For instance, a new boiler, double glazing or insulation in the roof or any cavity walls can really help.