10 Ways to increase the value of your home
Wondering how to increase the value of your home? Here are Danvers Estate Agents’ top 10 improvements to consider. Some of the tips may be easier than others to implement, likewise some may be more cost-effective than others. The overall impact on your home’s value will be dependent on your property’s size and location - it is always advisable to consult experts before committing to any major expenses.
1. Upgrade your kitchen With the kitchen being the hub of the modern family home, this is often the first thing buyers will look at. Considering age, quality and style. As such, buyers will often discount the cost of an upgrade of a dated kitchen from the value of the home. This discount is often over-inflated, simply because it is seen as a major expense. Investing in a new kitchen gives you back the control of the cost and increasing the chance of buyers not having to think about it. Ensure you think of what your target market is looking for in a kitchen, rather than personalising it to your tastes.
2. Upgrade your bathroom Bathrooms are the next key criteria for buyers when purchasing a home. If your kitchen and bathroom are modern and fresh, you’ll be in a strong position to achieve the best price. If the decision to upgrade kitchen or bathroom comes down to a limited budget – a bathroom upgrade will often be the lower cost option.
3. Create a guest loo/downstairs bathroom A convenient downstairs loo is always a strong appealing factor to potential buyers. Do you have space under the stairs you could exploit to create a guest cloakroom? Or even a bedroom that could be re-configured to accommodate an en suite? Additions such as these can often add as much as 5% to the value of a property.
4. Tend to the gardens One of the most commonly over-looked areas is the outside space, both front and rear. The front garden is vital in creating the right appeal from the start, a beautiful landscaped rear garden can add a lot of potential to a property is worth the investment. By reducing “hassle” in buyers eyes you increase your chances of achieving a better price. A tidy garden, clear of fallen leaves and weeds is a basic must have for any property sale.
5. Extend An extension that increases floor space and improves layout, scope for use and indeed the image of a property, will enhance the value. This is one of the most expensive undertakings so do seek advice from architects and estate agents to help you achieve the right extension that will appeal to your target market. Converting an integral garage can be a more cost-effective way of adding extra floor space, if this is an option.
6. Loft Conversion Making use of existing but unused space without altering the footprint of your home is a more cost-effective way of adding value to your home. A straightforward way to open your home up to a new market is through the addition of a bedroom in the loft space, particularly in areas where price bandings may jump between 2 and 3 bed properties, or 3 and 4 bed homes.
7. Alter the layout Assuming no structural issues, knocking through walls to open up spaces can be a very cost-effective way of transforming a home. In recent years buyer’s sentiment and trends have leaned towards open plan kitchen/diners. Therefore, knocking through a dining room wall to create a larger “family hub” can add instant appeal.
8. Eco-friendly The energy performance certificate (EPC) for your home will often include suggested improvements. Following some of these recommendations will increase the appeal in the eyes of buyers as well as the added benefit of reducing the utility bills through increased efficiency. More costly options may include additions such as solar panels for water/heating.
9. Highlight features/character Adding features such as wood-burning stoves can provide a wow-factor, as well as a sense of warmth and ambience. If you have, or consider installing such a feature, ensure it is lit for viewings, (unless it’s the height of summer!), as this helps to sell the lifestyle and homeliness, over and above the bricks and mortar. You may already have features that could be given a new lease of life – sanding back painted beams, or reviving wood grain on doors or balustrades can give your home the edge over other properties you are competing with in the market.
10. Get the basics right A loft conversion with leaky windows or saggy roof defeats the purpose. Ensure the essentials are done right – central heating, double glazing, updating electrics, damp-proof course – are sound, basic investments.
If you’re thinking of selling your home
and would like further advice on how
to maximise the value of your home,
please call Danvers Estate Agents today.
0116 275 8888
We shall be happy to help.