How can I add value to my home?
Even the most talented estate agent can’t predict the value of your home in 5 or 10 years’ time. Without adding to the size of the plot, or adding an extension to create a 4-bed house from a 2 bed, the ways to add substantially to the value of your home are a lot more limited than we sometimes imagine.
There are certain elements to your home that we do know can certainly add value or at least ensure a quick sale.
Top tip! Always keep your home improvements within the parameters of property values on your street. For example, if average values are £250,000, you won’t be able to achieve £400,000 on account of even a top-notch extension.
1. Improve the windows
If you put in new windows, it can smarten the appearance of the home but only if they are in the right style. It can also increase efficiency and make it quieter indoors. If your windows are not in good condition, at the very least, you must get them cleaned or repainted.
Potential cost: £5,000 to £7,000
Potential value added: 5%
Top tip! Check if you need planning permission first. You can do that on this Government website.
2. Kitchen clues and bathroom blues
Kitchens and bathrooms make a big impact on buyers. A whole new kitchen isn’t money well spent as your taste might not suit that of the buyer but definitely ensure it’s clean and there is no visible damage. With the bathroom, updating small details like taps, shower screen, cupboards and towel rails can make a big impact.
Potential cost: £5,000
Potential value-added: 3%
3. Bring the outside in
Glass bi-folding doors to the rear of your home can really bring the outside into your home. It makes the interior brighter and with outdoor lights, even at night and in the winter you can enjoy the benefits.
Potential cost: £3,000
Potential value-added: 2%
4. Pave over the front lawn
Parking is becoming more and more of a premium so it can be a savvy move to make your front garden into a driveway.
Potential cost: £10,000 to £20,000
Potential value-added: Up to £50,000 in some pockets of London
5. Think about kerb appeal
Replace or paint your front door, paint the front façade, clear up any weeds and clean the windows. Here’s a case study where the seller did just that for a small amount of money but made a big difference.
Potential cost: £50 to £1,500
Potential value-added: Up to £5,000 – with the bonus of getting more potential buyers through your door.
6. Hallway hopes
As people come into your home, you don’t want their first impression to be shoes, pushchairs and old receipts. It makes them think there’s not enough storage in the rest of the house for one and can distract them from more positive features. Put up a mirror or two to increase the light and feeling of space for that all-important step over the threshold.
Potential cost: £200-£200
Potential value-added: A good impression – priceless!
If you're on the market or thinking of going on the market and would like a second opinion about adding value, please get in touch and we'd be delighted to help.