How to add value to your property
The property market offers huge opportunities for investments and returns. However, knowing how to maximise your investment and get the most value out of your property is crucial in the current market.
Whilst major renovations require careful consideration and planning, and may not be suitable for everyone, there are certain projects that can make a huge difference to your property value, even if you’re not planning on selling anytime soon.
Knowing how to add value to your property ensures you can get the best return when you do sell and will help you to work your way up the property ladder.
Here’s some of our advice on how to add to value to your home.
Fix any issues
Before considering any major work on your home, it’s important to consider any structural problems which need rectifying. This will ensure there are no unexpected surprises on building report surveys during the selling process.
It’s a good idea to arrange for a surveyor to check for potential issues like a leaking roof, rotten joists, structural cracks and bowing walls. Whilst the costs associated with rectifying these issues can be significant, they are essential fixes and can add substantial value to your property.
Improve the energy efficiency
Updating your central heating is guaranteed to increase the value of an older property in today’s market. Whilst it may be a hefty cost, it will definitely pay off when it comes to selling on.
It’s also worth looking at replacing older windows with double glazing or adding loft or cavity wall insulation to improve the energy efficiency of your home, as this is a top priority for buyers nowadays and will give your property an advantage in the market as well as adding value.
Move on up
Rather than paying out for a full extension, a loft conversion can be a more cost-effective option for adding value to your property. It’s important to make sure that any loft conversion is adding more space rather than taking away as this will defeat the purpose of increasing property value.
Loft conversions can increase the amount of natural light entering the property, which is one of the first things buyers notice at viewings. They also don’t usually require planning permission so can save time and money over an extension – although it’s always worth checking with your local council’s planning department to be on the safe side.
Embrace open plan living
Often called the heart of the home, a kitchen renovation could help you get the quick sale you’re after, as well as increasing your selling price. When planning a kitchen renovation, consider how to get the most out of the space and whether any structural changes are needed.
Open plan living has been increasingly popular over the years and is a great way to bring multi-functional living space into your home. Use the space you create wisely and bring in experts when it comes to making any structural changes.
Update your bathroom
After the kitchen, your bathroom can add the wow factor to your property and add genuine value to your home. A spacious family bathroom is an attractive feature and almost all buyers require at least one bathroom with a shower.
Consider modern upgrades such as a walk-in shower or a roll top bath, making sure the suite you choose is contemporary and tasteful. Mirrors can brighten rooms and make the space feel bigger, and consider adding fixtures such as underfloor heating or a heated towel rail if you’re redoing the floor.
Add to your living space
As well as adding significant square footage to your property, a well-designed conservatory can also add to the value of your home. A basic kit may only cost £3,000-£5,000, however a cheaper option may not be best for your property.
A period house will most likely clash with a cheaper option, however a bespoke conservatory build will compliment your home nicely. Whilst this would be a bigger investment, within the region of £10,000, in-keeping brickwork and classic features would be appealing to buyers.
Spruce up your garden
If you have created a beautiful open plan kitchen backing onto your garden, you might want to consider adding French or bi-fold doors to open out onto the space.
However, if your garden is in need of some maintenance or TLC, it may be time for some landscaping to fit in with the work that’s been completed inside. Privacy is an important factor to buyers so considering raising any boundary fences – this can be done up to two metres in height without planning permission.
Create clear space for seating, storage and lawn area to make sure your garden is multi-functional and will meet buyer’s needs. Invest in garden beds and borders to bring colour to your garden to complete the look and add that all important value to your home.
If you have completed your works on your property, get in touch with HP Sales and Lettings for a free valuation.
HP Sales and Lettings – Your Investment, Our Expertise