A house used to be viewed as simply the place that you and your family called home.
Nowadays, there’s more of an imperative to view it as a potential investment which you should be adding value to, especially if you plan to sell up in the next few years. That loft conversion or brand new bathroom would be lovely things to have in themselves, but they’re also strategies to earn extra cash come the day you want to move. Here are some simple (and less simple) things you can do to add value to your home
A lick of paint
There’s nothing that transforms a house as quickly and efficiently as giving it a brisk makeover with a paint brush. As well as injecting new life into those dull or cracked walls, a bright, light re-colouring will immediately make your home more cost-effective and attractive. Magnolia is a popular shade for achieving this.
The three Cs
Clutter, cleaning and carpets. A well-presented home will always be more attractive to a potential buyer, so as late in the day as you can leave it, get into those nooks and crannies to clean it up and have a top-to-bottom clear-out of every room in the house as a streamlined property is a welcoming one. Increasing space in your home is a psychological boost when you live there and a potential financial one when selling. Decluttering becomes a must. Think of the efforts you go to when making your home presentable for having guests round and multiply that a few times for when you’re looking to add real value to your property. Of course, you wouldn’t change the carpets when you have family round for tea and scones, but you should definitely consider it when it comes to selling up.
While a little bit of DIY and manageable home improvements will certainly add value to your residence, there’s little doubt that more ambitious projects will seriously increase your profits come the moment when you’re handing over your keys. It’s estimated that while double glazing could cost around £2000 to install, it could actually add £4000 onto the eventual selling price. Other major alterations that can increase value twofold are an extra bathroom, central heating and a kitchen renewal.
Think outside the house
If you have a front garden and / or a driveway, make sure that they are up to scratch as this will be the first things which a potential buyer would see. And if they have negative thoughts on entering your property, all your good work inside may come to nought.
Do it yourself. Literally.
The best way to widen your profit margins when selling would be having the skills and materials to do all the renovations yourself. There are few of us in that exact position, but the more you can do yourself in an effective manner the better. But be realistic about your capabilities: if you botch a big job, then you’ll have to pay to bring in an expert to fix it.
Did your home improvement plan yield dividends when you sold up?