10 ways to increase the sales price of a property
Whether you’re planning to sell your current home and want to get the best price possible, or you’ve just moved in and you want to add value, it’s always a good time to consider home improvements. Here are ten ways you can bring out the best in your property, with the intention of raising the market value.
Of all the ways to add value to your home, the easiest is probably to refresh the décor. How much value this adds depends on the current state of your property. If it’s fairly current and in good condition, redecoration won’t make much of a difference to the market value. But for older homes with dated furnishings, it can help to boost the sales price a little.
2. Add parking
Off-road parking is a desirable feature in a property, so if you don’t have a driveway or garage but you do have a small front garden or other outdoor space, you could consider creating a parking space.
3. Convert the garage
Creating living space out of unused space in your property is a great way to add value. If you have a garage, this is one space that’s worth considering. You’ll need to add insulation, heating, and flooring.
Particularly in these times of lockdowns and working from home, converting your garage to a home office could be a great addition.
4. Convert the loft
A loft conversion can be one of the more valuable home conversions as it offers the potential to add an extra bedroom to your property.
5. Convert the basement
Another option for converting space in your home is the basement. You’ll need to consider damp-proofing, ventilation, natural light, and potentially increasing the ceiling height. If you need to dig deeper to create higher ceilings, the project becomes a little more complex and costly, but this can be worth the expense if you increase the square footage of your home by a significant margin.
6. Add an extension
Side returns – the alleyway that runs along the side of many properties, leading to the garden – often offer the potential to extend easily that hasn’t yet been taken advantage of.
Adding a little extra space to the ground floor of your home can give you more layout options. You might convert to an open-plan kitchen, dining, and living area to give a greater sense of space.
7. Add a conservatory
If you don’t have the option to add an extension, you could consider a conservatory instead. They don’t tend to add as much value but can increase the usable living space of your home, without compromising the natural light in existing rooms.
8. Install a new kitchen
The kitchen is one of the key areas of interest to potential buyers, and a newly installed kitchen, with high-quality surfaces and appliances, can help to create an impressive first impression. The current trend is for open-plan kitchens that flow into the living space.
9. Install a new bathroom
Simply replacing your bathroom suite is unlikely to add much value to your home, but if your bathroom has more room for improvement, this is something to consider. For example, if you currently only have a shower over the bath but have the floor space to install a separate shower unit, this can be worthwhile, since there are plenty of buyers who prefer to have both.
Alternatively, an extra bathroom can be a valuable addition, if you have bedrooms with floor space that can be sacrificed, and they don’t currently each have their own bathroom.
10. Seek planning permission
If you don’t want to carry out work yourself, bear in mind that you could increase the sales price of your home simply by securing planning permission to carry out larger works. Speak to an architect about what would be possible with the space you have available and what might be desirable to buyers.
All Rights Reserved. Information contained in this article and on our website does not constitute advice and is provided for information purposes only. Recipients should not act upon it, but should seek professional advice relevant to their own situation.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.