Thursday, February 5, 2015

How to double the value of your home for very little money!

If you have had a disappointing valuation of your home the surveyor will no doubt have pointed out a few ways of boosting the price. And although some might cost a few thousand pounds such as acquiring more land to create a bigger garden or fitting an extension, there are other simple changes which might not cost the earth but can ramp up the value of a home very swiftly.

Some are obvious. Think about it from a buyer’s point of view – would you want to buy a house where wallpaper is peeling and mould is clinging to the ceilings? You may need to completely redecorate some older-style rooms, and cover older, grubbier, pieces of furniture. It is about giving the correct impression, even in items that you are taking with you should you move.

Firstly, all mini DIY projects need to be tackled. That means squeaking doors, poorly tiled and plumbed bathrooms, mould, cracked windows and other issues that you keep putting off need to be tackled now. You will need to invest manpower and time, but not too many pennies to deal with cosmetic issues. For example, researchers at LSE found that doubling a house’s broadband speed could instantly add 3% to its value, as reported by USwitch.

Then the structural problems need to be dealt with, and swiftly. A sagging roof, dry rot, a collapsed floor and other issues might not be cheap, but you simply would not sell the house if these defects are present. Even creeping cracks in the wall which do not look like much need to be investigated.

If your windows are not retaining heat, or the frames are plagued with revolting peeling paint, then installing double glazing might add more than double their cost to the house value; in other words, a £15,000 set of windows might add £40-50,000 to the home. Make sure they are sympathetic to the style of the home.

Replacing an old kitchen can also work wonders for boosting the image of the home. Potential buyers will notice damaged drawers, scratched surfaces, missing lights and other neglect. Perhaps even worse is if the kitchen does not suit the décor of the rest of the house, in age, colour or style. Totally replacing the kitchen for a couple of thousand pounds might add £5-10,000 to the overall value. Make sure everything is clean and smells good.

Here is another way of potentially boosting the value of the house in a buyer’s eyes; removing junk. Cluttered rooms full of ugly ornaments and old, unwanted items should be taken to the tip immediately – that also includes the shed and garage as well. Can you rearrange the sitting room, kitchen or garden to boost space allowance? Is there any way of securing off-road parking at the front of the property?

Finally, a few additions that one could make that will pay for themselves and more: a conservatory (check regulations), central heating, a shower, underfloor heating from a company such as the Underfloor Heating Store, and an outside storage unit.

If you have to pay £10,000 to put £50,000-£100,000 on the value of the home, then it is surely an outlay worth pursuing. And of course if money is of little concern then these measures described in the Telegraph such as loft conversions and adding a garden room will immediately transform the asking price. If not, these tips, added together, will cost little but promise much when it comes to selling. 

No comments:

Post a Comment

Thanks for stopping by. I appreciate you taking the time to share with me your thoughts, ideas and suggestions. Your comments always, always brighten up my day! So, keep them coming. Have a beautiful day!