Even if you aren’t planning on selling at the moment, you never know what the near future will hold. When it comes to determining the value of a property, there are several things you can do that will up the price. Most of these can be done by you and for little cost. For others with a slightly higher price tag, there are solutions available for financing.
In the long run, carrying out some of these suggestions will not only increase the value of your home, but they will make it better for you, and more attractive to potential buyers now, or in the future.
Are your doorframes looking a bit chipped and worn? Are your kitchen cupboards missing handles? Or does the tile work in your bathroom look like something out of a 1970s nightmare? If so, it could be time to renovate.
Small renovations here and there don’t have to cost you the world, but they can make a big difference. Take a walk through your property and note anything that looks worn, broken, dated, or faulty. These are the things you should address first. A lick of paint here, a fixed door there can make a notable difference in terms of property value.
One of the best ways to add value and increase the attractiveness of your home is through redecorating. While putting your personal stamp on a property makes it more homely to you, it can put off buyers and decrease the value. If your current decor is a bit ‘out there’ you should consider redecorating.
Go for neutral colors such as white, cream, and light gray throughout, and keep furnishings in similarly soft tones. You can always brighten things up with cushions, rugs, and ornaments while keeping things simple at a base level.
Add an extension
Where possible, adding extra square footage to your property guarantees an increase in value. Good examples of profitable extensions include loft conversions, garage extensions, and sunrooms.
Of course, you need to ensure you have the space to build an extension and can afford the costs that come with it. A popular way of funding such building work is via remortgaging the property. By checking out a mortgage broker service like Trussle, you can evaluate the deals on offer. This site in particular offers a free service, including a calculator that can tell you how much you could save as you look to remortgage your home. It is estimated that adding an extension to your property can add between 10% and 30% to the overall value, depending on what type you opt for.
Is your home full of clutter? Would your shelving give Marie Kondo a headache? If the answer is yes to these questions, you could be unwittingly shaving value off your property.
By scaling down on your possessions and integrating storage solutions throughout your property, you can increase the value of your home. Many buyers look for substantial in-built storage and they want you to demonstrate how the home functions. They also want to be able to evaluate the suitability of the home, without it being full, floor to ceiling with random objects.
Make it more efficient
Nowadays, energy efficiency is an important consideration as a homeowner. This should include the house being properly sealed and insulated, having modern windows that don’t let out (or in) too much heat, and installing energy-efficient showerheads, taps, and toilets.
You can also ensure that any appliances or electronics that will go with the house are energy efficient. Taking steps like this will reassure the potential buyer that the home is not going to cost them a fortune in energy. It also saves them having to spend money once they move in, on upgrading it.
Of course, you don’t have to carry out all of these changes overnight. Consider it a “to-do list” for the near and distant future. With the housing market as it is, you would do well to be one step ahead of the game!