Purchasing property has long been considered a sound investment thanks to rising house prices providing a near-guaranteed return. However, there is much more to hiking the value of a home than just moving in and sitting tight for a few years. Take, for example, the following ten means of maximising the potential pay-out from your bricks and mortar…
1. Pimp up your parking
Those lucky enough to have a garage not protecting a vehicle from the elements or packed to the rafters with garden equipment should consider whether it can be better utilised. Converting something primarily used for storing junk into an additional room – be it a study or snug for the kids – will boost your home’s habitable space and its market value.
However, do your homework and chat to a builder before you start planning where to hang that new flatscreen TV. Structurally, a change of use may not be possible and, if it is, remember to include enough in the budget to bring comfort to your conversion.
2. Look up
No garage? No problem. It’s also possible to raise the value of your home to new heights by turning your attention to your loft. Rather than using roof space as a resting place for retired Christmas decorations and treasured trinkets, eaves storage can be elevated to become a master bedroom suite or teen hideout. Conversions can be costly but you’ll reap the rewards of having an extra room when it comes to bringing your property to market.
3. Leave others green with envy
When it comes to what people look for in a home, lockdowns have left a lasting legacy. Outdoor space beyond the back door has become as important as the decor behind the front door with buyers keen to have a green corner to call their own. Consequently, any cash you plough into your garden – be it through professional landscaping, the construction of an outdoor kitchen or building of a garden office – will see your investment blossom. Even minor changes, such as higher fences to improve privacy, planting trees or the creation of distinct areas, will make a positive impression on buyers.
4. Futureproof your facilities
While older properties undoubtedly have a certain charm, the age of a building can set alarm bells ringing in the heads of would-be owners. The prospect of moving in and immediately having to endure the disruption of major electricity or plumbing works may appeal to those seeking a project but the majority will be appreciative of any modernisations you make to improve the energy efficiency of your home.
5. A trick of the light
Do away with dark and dingy by flooding your home with as much natural light as possible. Aside from making a property appear more spacious and welcoming, it’s good for you and high on the wish lists of house hunters. Money spent on new windows, bi-fold doors, roof lights will see your property shine out from the crowd.
6. A splash of paint
It’s a pain and there are plenty of better ways to spend a weekend but decorating pays dividends. A fresh coat of paint can have a transformative effect, making a home immediately feel brighter and more inviting. Time spent on caring for the cosmetics – replacing mouldy sealants, concealing cracks to plasterwork and oiling squeaky doors – won’t go unnoticed.
7. Turn up the heat on the competition
Of all the ingredients required for a quick sale, serving up a well-presented kitchen that is configured for entertaining is paramount. As the proverbial heart of the home, your kitchen deserves as much TLC as you can afford to give it and any expenditure will turn up the heat on the competition when it comes to selling up. However, don’t despair if that new island or wine fridge is currently beyond reach – changing worktops, unit doors and tiling can have a dramatic impact on the appearance of your home’s hub.
8. Street smart
First impressions really do count and enhancing your property’s “kerb appeal” is key to capturing the eyes of potential buyers. Freshening your home’s exterior can be as simple and inexpensive as repainting a wall, repointing tired brickwork or re-hanging a gate but will apply a level of polish that will help to attract admiring glances. Similarly, if you have a front garden, a regular weed and cut is enough to plant the idea of a well-cared for residence.
9. Dress to impress
Does your home have that je ne sais quoi which captivates guests and could convince buyers to pay a premium for the property? If not, and your budget allows, then a feature window, designer front door or roof lantern might be all it takes to add a “wow factor” to your address and appreciate your investment.
10. Banish the badly done
If you’ve found yourself on the wrong end of some shoddy workmanship or inherited some ill-advised property adaptations, putting things right is a prudent investment. Mismatched period details, cheap finishes and dated decors will dampen your home’s value and the ardour of any potential buyers. If you do have a character property, then restoring or replacing original features is money extremely well spent.
Contact PLS Solicitors to find out how we can add value to property transactions.
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