Thinking of selling your home? If you want to ensure you are getting the best price, you’ll need to add on plenty of value. There are a ton of ways you can do this, no matter what your budget.
Read on to discover 10 ways to add value to your property that will pay off when it’s time to sell….
Need to boost the value of the property on a budget? You don’t have to make major changes to maximise your investment. According to Stories Flooring, new flooring around the home can help to boost its value, while also making it more appealing to buyers.
2. Give your home kerb appeal
When trying to add value to the home, it’s easy to make the mistake of focusing solely on the interior. However, the outside of the property is what potential buyers will see first. Making sure your home has great kerb appeal is therefore going to not only make it easier to sell, but also bump up the price.
There are a few things you can do to boost the kerb appeal of your property. Giving the exterior walls a fresh coat of paint, creating an attractive landscape, and adding outdoor lighting are just some great ideas you can utilise to get more value from your outdoor space.
3. Extend the living space
Extensions are one of the best ways to add significant value onto a property. You can extend the kitchen, bathroom, loft, or garage. Or you could extend the entire property if you want the biggest return on investment.
On average, an extension to your living space will add on around 10% to 15% value.
The kitchen is often viewed as the hub of the home. Potential buyers are going to spend a lot of time here, so you’ll want to make sure it boasts a modern, appealing design. There are a lot of ways you can give your kitchen an upgrade including replacing old and tired cupboards or upgrading the appliances.
According to the Guild of Property Professionals, the average kitchen renovation will add on up to £15,000 in value.
5. Modernise the bathroom
The bathroom is another important room to focus on. These days, buyers look for a relaxing and luxurious space where they can unwind after a long day. So, if your home’s bathroom could use a little updating, now is the time to do it.
You don’t necessarily need to spend a fortune on a totally new suite. If budget is a factor, you might be able to get away with changing the tiles, flooring, and giving it a fresh coat of paint. Look online for inspiration on how to transform your bathroom on a budget.
6. Create an open plan space
Open plan living spaces are extremely popular. Giving the home a more spacious design, an open plan layout can add on a lot of value to a property.
The cost of doing this can vary a lot depending upon how much work it will involve. For example, if you need to relocate appliances and fixtures, it could prove to be an expensive project. It’s worth considering how much an open plan area could add to your property’s value.
Experts suggest that adding an open plan living space can boost its value by up to 20%
7. Create a downstairs toilet
If your property doesn’t already have one, a downstairs toilet can add a surprising amount of value. Having more than one toilet enhances the convenience of the home, especially for families. If you don’t have much space, you could always add a small toilet in the space under the stairs.
According to some property experts, adding a downstairs toilet could increase the home’s value by as much as £26,000. This will obviously vary depending upon where you live, but it’s potentially a great return on investment.
8. Provide a parking space
While having a garden is important for buyers, so too is having space to park their car. According to Direct Line, a parking space can increase the value of a property by 13%. If you currently only have on-road parking outside the home, you should consider creating a driveway.
This would mean sacrificing some of your garden space to turn it into a driveway. If you do decide to do this, it’s worth contacting your local council to see if you’ll need planning permission. This brings us onto the next tip…
9. Get planning permission
If you don’t have the money to make major changes to your property, you can still increase its value by getting planning permission. It costs around £400 to apply for planning permission, yet it could add up to 10% onto the overall value.
By gaining planning permission early, it saves the buyer a potentially frustrating job. They also know that they can make any changes they want to the home, quickly. So, if you don’t have the budget or you simply don’t want to make significant structural changes, this is fantastic tip to follow.
10. Decorate the property
Last but certainly not least, decorating your property is an excellent way to add value to the home. Even just giving the property a fresh coat of paint can make a significant difference. While doing it yourself will save on the cost, paying for a professional will guarantee the best results.
When done correctly, decorating your home can add on around £5,000 to its value according to Phil Spencer, a leading property expert.
So, there you have it – 10 ways to add value to your property. As you can see, it doesn’t matter what your budget is. There is something you can try from the list above to make sure you get the most value out of your property.