Which Home Improvements Really Add Value To Your Home Before Selling?
If you want your property to sell for the maximum amount, it is tempting to make some home improvements before putting it on the market. However, do some research before spending thousands on a costly refurb as not all home improvements actually add value.
To make things easier, we have compiled a list of improvements that add value to your property, whether it’s for a long-term investment or to carry out before selling.
Major home improvements
Fixing Foundational Problems
The foundations of your home are just that, the foundations. It’s what your house sits upon and without it you wouldn’t have much of a home left. Foundation problems are always a severe threat to a home. Foundation issues can lower the value of your home. So before listing your home for selling, you must ensure your foundations are optimal. To make sure this is the case always consult professionals for a foundation check-up. If there are problems, fix them. It’s a quick win to ensuring your home not only retains value but increases it as potential buyers won’t need to do it themselves.
Increasing the amount of living space
The price of a house is (largely) defined by its size. This is why Spring, for example, recommends expanding the living space of your house as a great way to increase its value. There are several possibilities: extensions to the house, building a garage or even converting a loft or cellar can work very effectively. In any case, keep in mind that many large scale property modifications will often require planning permission.
A new kitchen
The kitchen is the undisputed heart of the home and a new kitchen could boost your home’s value by around 6%. It is important to match the renovation to the property – if you live in a £300,000 house, investing in a £50,000 kitchen means that you are unlikely to recover the investment.
Equally, if you are trying to sell a £1 million-plus home, a cheap renovation could drag the price down. Make sure the style of the new kitchen fits with the rest of your home.
A new bathroom
Like the kitchen, the bathroom can have a major influence in the choice of a buyer. For a home valued at £250,000, the average bathroom renovation could cost around £12,500 but the improvements can generate a recoverable value of around 85 percent! A new coat of paint on the walls and a few cosmetic changes can also work wonders to create added value at a lower cost.
Increase the performance of your home
With the increase in the price of energy and the growing importance of the ecological issue in our society, the performance of a home is increasingly scrutinised by buyers. A good energy label today can change the fate of a sale and influence the price.
If you want to add value to your home, you can re-insulate the walls or roof, change the plumbing system or invest in a new boiler, solar panels, etc. This work will considerably reduce the energy bill of the house, which is a major selling point.
If you don’t have a lot of extra money to spend on your home, there are still plenty of inexpensive steps you can take to increase its value.
Budget Home Improvements
Retain Period Features
If you live in an older property, retaining period features such as tiles, bay windows and parquet floors and fireplaces will offer buyers something that they may struggle to buy for themselves. Replacing any period feature with a modern imitation is rarely a good idea. Original is best.
Interior and Exterior Maintenance
While renovating is often wise, maintaining your property consistently is a profitable tip that should not be forgotten. Bewteen two similar options in the same area, the difference between an immaculate property and a neglected one will be decisive.
According to Spring, improving “kerb-appeal” and giving your exterior a reasonable makeover could make your property easier to sell as well as increasing the value of it by 2 to 3 per cent. And this doesn’t have to cost a lot of money or time. Keeping your front garden tidy and weed-free, making sure any repairs are attended to promptly and decorating with flowering plants can all be done over a weekend without breaking the bank.
Although it is crucial to make any repair, banishing clutter and giving your home a fresh coat of paint and carrying out a solid clean is the cheapest and most important step in getting your house ready to sell quickly at a good price. Tidy your home first and, if you are time-pressured, book a professional cleaning service to give your home a deep clean before prospective buyers are shown around – or before marketing photos are taken.