How to add value to your property
There are several ways to increase the value of your property before putting it on the market, or before renting it out to someone.
One effective strategy is to focus on curb appeal by making sure the exterior of your home looks inviting and well-maintained. First impressions are important. This can include giving your home a new lick of paint on the outside, painting the front door, tidying your garden up, updating your lighting or adding some attractive features such as putting up hanging baskets.
Making energy efficient upgrades can also add value to your property, such as installing new windows, adding insulation, or upgrading to energy-efficient appliances. All homes are now rated for energy efficiency, so homeowners must invest in an energy performance certificate (EPC) when selling. Not only will these upgrades make your home more attractive to potential buyers, but they can also help lower utility costs.
In addition, you can make some investments towards improving your property.
Some of these include:
- Sprucing up your kitchen – this is a classic way of making your house more aesthetically pleasing, as well as boosting your property’s value. According to the FMB and The Guild of Property Professionals, they found it could add around £15,000 to the average home in Cambridgeshire.
- Open plan living: knocking down a wall – this could allow families to spend more quality time together and it’s one of the best ways to add value.
- Creating a parking space – according to Direct Line, paving off a part of your front garden can add as much as 13% to the value of your home. So, depending on how important it is in the neighborhood, could be worth it.
- Converting your loft, garage or cellar – if you’ve got the money, make sure you get planning permission and have the space for it.
- Improving your back garden – This one can really make a difference when selling your property – for the buyers as well as the valuation. Adding things like decking and lighting to your garden can raise the asking price when a property goes on the market.
There are grants available to help sponsor your refurbishment.
Regular maintenance tasks such as fixing leaky taps, repairing any damaged walls or flooring, and keeping the heating and ventilation (HVAC) system in good working condition, can go a long way in maintaining the overall value of your home. Additionally, addressing any structural issues promptly can prevent them from becoming more significant problems down the line.
As a general rule, it’s essential to keep the property clean and tidy as this shows potential buyers that you have taken pride in your home and can help you stand out in a competitive real estate market.
If you’re planning on any of these, then good luck and have fun!
Written by Vicky Wojslaw
Summer Sky Investments Ltd.
