Knowing what buyers want when it comes to a property will not only ensure that your home sells quicker but also for a greater sale price.
Every year, a large number of homeowners in the United Kingdom spend money on renovations in order to raise the value of their properties. While some people are ready to spend a lot of money on major home upgrades, not all large projects yield the best results. When it comes to determining the home’s value, small modifications can save you a lot of money.
As Cheltenham Estate Agents, here are some of our best recommendations for raising the value of your property.
Makeover of the outdoor spaces:
Outdoor space is just as vital as your indoor space. Spending a little money on your garden will boost the total value of your home. To make the exterior space appear more appealing, consider adding a small patio or a paved walkway.
Just by enhancing your property’s ‘kerb appeal,’ you can increase the value of your home by up to 10%. A newly painted façade, a tidy driveway, a new front door and clean windows can all help. When potential buyers browse online or come in for a viewing, the first thing they see is the outside of your home.
Changing the internal layout:
A layout that is in demand is open-plan living. It has been popular for a long time and shows no signs of going out of style anytime soon. Most modern house buyers are searching for places that are functional and versatile, and cooking your food in one area and then having to transfer it to another to consume it seems a little out of date.
You want to create places that are connected but unique, so open-plan living spaces don’t have to be huge or rectangular. Consider separating your room with sliding doors or drapes that can be drawn back during daytime, waist or shoulder-high separators, or doorway-like arches.
A few spacious bedrooms are preferable to a number of small rooms. Consider tearing down walls to expand and enlarge your bedroom.
Adding additional bedrooms and bathrooms:
You should think about converting unused space in your house into a guest bedroom. Otherwise, if you opt to have a house extension, you might take into account the expenses of a new bedroom.
The number of bathrooms, like bedrooms, is a ranking factor for your home, and it’s an important figure in evaluating the property. A little downstairs lavatory may be a simple way to extract profit from wasted space. You can make use of a broom closet, pantry or storage under the stairs to create a small downstairs loo.
Adding a second bathroom can increase the value of your home by up to 5%.
Converting a loft:
Attic space can be useful if converted into a usable area such as an office, bedroom, gym, or storage space. It’s a waste of valuable space to keep your loft empty. Prioritize underutilised spaces such as the loft if you do choose to spend on renovations.
Loft conversions can be difficult to execute properly. But if done well, you may reap significant domestic and financial benefits. Increasing square footage of your house will definitely increase its value. Given the market’s obsession with the number of bedrooms, adding one may almost assure a large profit when it comes to selling.
Loft conversion costs roughly £40,000 on average, but it can raise the value of your home by up to 21%. They’re normally a long-term approach, so if you sell right away, you may not get all of your money back.
Loft conversions aren’t cheap – and aren’t appropriate for every home. However, with the right kind of property, they can certainly be a lucky bonus.
Decoration of the interior:
Another common improvement option is redecorating. To modernise a property, you don’t need to invest a lot of money. To breathe fresh life into various areas of your home, you can redo walls, apply new wallpaper, purchase new furniture, and possibly do some basic cleaning and upkeep.
A well-designed kitchen can easily attract more potential value. Similarly, a fresh coat of paint may instantly make claustrophobic spaces more marketable.
Your home may not be brand new, but it will appear that way to potential buyers, and you’ll be doing yourself a favour if you can make it appear appealing as soon as they walk through the door.