Many of you were interested in our blog about different things that could devalue your home, so we thought we’d explain how you can add value too. From extensions to kitchen upgrades, here’s 10 of the best ways to make your house more appealing to buyers.
1. Install a loft conversion
A loft conversion can mean an extra bedroom which is always appealing to buyers and can bump up a property’s value by 10 – 15 per cent according to Savills. Just make sure that the conversion fits with the rest of the house and you’ll likely increase your house’s value by more than you spend.
2. Give your kitchen a makeover
Kitchens sell houses so if you only improve one room, make it the kitchen. An efficient, stylish and easily manoeuvrable kitchen with up-to-date equipment can add 4.6 per cent onto the value. Be careful though, kitchens are expensive so make sure yours doesn’t cost more than it adds.
3. Upgrade the bathroom
The bathroom is another showpiece when it comes to selling, and giving it a facelift is surprisingly easy and relatively inexpensive. A set of new taps, a shower rail and a glass shower door instead of a curtain can make all the difference.
4. Add a conservatory
Conservatories are still a selling point and add valuable space and light. They can cost anywhere between £5,000 and £30,000 but add 7 per cent in value. Again, make sure it matches the rest of the house, and conservatories are probably best avoided if you already a small garden.
5. Freshen up your exterior
In the digital age where buyers are scrolling through hundreds of properties on their smart phone, kerb appeal has never been more important. Paint the house, clear the driveway and unblock the gutters. You should also consider changing the windows if they’re in a poor state or make your house look less attractive.
6. Build an extension
It will take time and investment, but an extension will add significant value in the long run. Buyers are usually more attracted to space than number of rooms, so think about how an extension will be most effective. For example, extending your kitchen might be more appealing than, say, adding a study room.
7. Convert your garage
You’re probably sensing a pattern here, but space really is at a premium. How many people keep their cars in a garage? Apparently only around 10 per cent of people in the UK, making them a wasted asset. Turn your garage into an extra bedroom or even a games room.
8. Put in central heating
If you don’t have it already, install central heating. If the house needs a new boiler, get one. It’s a bit like trying to sell a car without an MOT, and you’ll spend around £1,000 – £3,000 but add closer to £5,000.
9. Create off-street parking
Off-street parking is still one of the first things people look for when buying property so it can make a big difference to the value. Create a parking space if you can, even if it means sacrificing part of your front garden. Most people will prefer an attractive driveway over a garden they don’t use – but check you don’t need planning permission first.
10. Fix cosmetic defects
Technically, small problems like peeling paint and loose tiles won’t directly affect the value of a property, but altogether they could stop you achieving the sale price you’re hoping for. Fix anything that looks unappealing like ceiling cracks, mouldy sealants and broken fixtures.
If you would like to discuss this topic in more detail or discover how Key Mortgage Advice can assist with your mortgage application, please contact us on 01772 620 000 or email [email protected]