You’ll often hear estate agents talking about the all-important notion of adding value to your home if you want to get the most out of putting it on the market. But what do we mean by adding value, exactly? Are we talking a double-storey extension?
Well, yes, whilst carrying out some major improvements to your home is a great way to boost its overall value, the good news is that there are also smaller projects you can take on too. We’ve outlined some of the different ways you can improve or renovate your home and help boost its saleability.
Conduct a home ‘health check’
It goes without saying that you want your home looking tip-top before putting it on the market. Whilst cosmetic improvements won’t necessarily directly add value to your home, fresh, smooth walls; neat tiles and sealant; working door handles and latches and properly sealed windows and doors all add up to the overall picture of your home.
For prospective buyers, walking into a property that feels modern and well-presented helps them to focus on the positives and potential, rather than worrying about lots of work that needs to be done. You’re also more likely to achieve the asking price you’ve set out for, as buyers won’t need to consider deducting for fixes.
Optimise your floorplan
According to HomeOwners Alliance research [1], knocking down an internal wall to create an open-plan kitchen and dining area can add thousands to your home’s value.
However, some property and design experts have also noted a trend shift towards the closed-plan layout, arguably growing in popularity since many more of us have been working at home and need separate spaces for working, socialising, and living.
Our tip: carefully review the space you have in terms of opportunities for maximising it. Do your research into what’s desirable in your area and, if in doubt, make use of clever multi-functional solutions such as glass partitions to make rooms feel brighter or add an extra layer of privacy.
Kitchen or bathroom makeovers
Renovating your kitchen or bathroom needn’t be an expensive project and, if you don’t want to fit-out the whole room brand new, you will be amazed at the difference that new worktops, cabinets, or tiles can achieve.
As such important rooms in the home, some prospective buyers will want to avoid the need for having to update them so soon after moving. Create welcoming spaces that they will be able to imagine themselves in and consider maximising the light with brighter bulbs or even rooflights.
Transform unused spaces
Many homeowners are sitting on missed opportunities for maximising available space, whether that’s the potential for a spare bedroom in unused loft space, transforming large closet space into an en-suite or making better use of garden space.
With the times we’re currently living in meaning most people are spending more time at home than ever before, have a think about how you could make room for workspace, leisure or even space for peace and quiet. Could a disused nook in the hallway become a small home office or reading area? Do you have access to disused outside space, such as an outhouse?
Obtain planning permission
Did you know that homes with approved planning permission attached can see their value increase by up to 10%? Which means that, even if you aren’t planning on carrying out large renovations yourself, the effort of obtaining permission can be very valuable to potential buyers.
So, if you know there could be a good opportunity for the next owner to extend the home or build onto the land, it could be worth looking into obtaining permissions.
