If you’re currently on the property ladder and trying to get on to the next rung, then you’ll need to add value to your current property to really maximise its value. Here are 10 sure-fire ways to add value as you work towards affording your dream home.
1. Add Living Space
This is the easiest way to add value and to ensure that your home meets the needs of a growing family until you’re ready to make the move up the ladder. A loft conversion will add around 12% to the value of your property. Digging down for a basement extension can triple the return on your investment, especially if you’re in London. Got a garage you no longer use? Turn it into living space and see the value of your property climb.
2. Fix Structural Problems
There are some quick cosmetic fixes that will improve your property, but if your roof leaks or there are structural cracks, invest some time and money in solving the problem properly.
3. Bring the Outside In
This can be as simple as installing glass doors to access a deck, which can add 2% to your home’s value, or adding a conservatory (7%) or even an extension into the garden, which can add 11% to the value.
4. Add a Driveway
Paving over the front garden in an area where parking is at a premium can bring you a five-fold return on your investment.
5. Install Central Heating
A full central heating system can cost around £3000, but you’ll get double that when you sell your house. Use energy-saving technology and that figure will go even higher.
6. Revamp the Garage
If you have enough interior space, think about motorised garage door installation in St. Albans from a company like http://garagedoorsrus.co.uk/garage-door-installation-st-albans/ to add instant appeal.
7. Add Storage
You can never have enough, so find clever places like loft voids to add valuable storage space.
8. Paint the House
A new coat of paint, clean windows and a tidy garden will make your property stand out.
9. Refurbish the Front Door
New varnish or paint and smart door furniture all create a great first impression.
10. Declutter
Prospective buyers will pay up to 10% more for a clean, clutter-free and well-presented property.
Fix the structure before the cosmetics
Before spending on a new kitchen or bathroom, deal with any structural problems, because buyers and surveyors are unlikely to miss them. Common issues include an unstable chimney, structural cracks, missing roof tiles, rising damp, a leaking roof, bowing walls, insect damage and rotten roof timbers. These repairs can be costly and slow, but they protect the value of the property.
Next, look at small faults that add up. Peeling paint, loose tiles, broken windows, cracked concrete on the drive, creaky floors or stairs, cracked plaster, mouldy sealant and broken locks may each seem minor, but together they can put buyers off.
Kitchens and bathrooms do not always need a full replacement. New cabinet doors, handles and worktops can refresh a kitchen at modest cost, and under unit lighting is inexpensive and effective. In a bathroom, a plain white suite, neutral paint, a good shower, a heated towel rail and vinyl or tiled flooring in place of carpet all help. Outside, tidy the garden, front door, garage door and driveway, since first impressions count.
Garages, garden rooms and driveways
Some additions appeal to almost every buyer. Where parking is scarce and security is a worry, a garage is a real selling point that can help you sell more quickly and for a better price. If you add one, make sure the doors are secure and the space is well insulated, so it is not too cold in winter or too hot in summer.
A summerhouse or garden room is fairly easy to add and gives extra space or a calm retreat outdoors. With more people working from home, a room that doubles as an office is attractive, and others use them as a home gym or games room, so the space suits many different households.
A driveway is another strong addition. Private parking removes a daily source of stress in many areas. The cost depends on the size and materials, but it can be added fairly inexpensively, and off road parking can also bring cheaper car insurance.
