Increasing Market Value Now Easier Than Ever
In 2021, house prices can be expected to fall by as much as 20%. Whether you are planning to sell your house quickly and want to avoid missing out on a good deal or you are simply considering a move in the future, there are a whole host of steps you can take to increase the price of your property with some helping to add up to 30% to the market value.
These steps can range from simple jobs around the house such as moving your bins out of sight or cleaning the gutters, to the more extensive and significant property adjustments such as a full kitchen renovation or housing extension. Whether it’s big or small, your market value is not dictated by a fixed number and can be changed very quickly.
There are no guarantees that doing x will improve your value by y but there is a lot of information out there that you can use to find out where best to focus your energy. For example:
- 75% of potential home buyers would pay a premium if the property had a well-kept garden.
- 42% felt that a quality exterior paint-job would be a prime selling point for them.
These weekend jobs can go a long way to increase the value of your home without breaking the bank.
The trick to increasing not just the value but the interest in your property from potential buyers lies in the “kerb appeal”. The first impression of your home can be make or break for potential buyers so getting the front exterior of your house in top condition is vital. In fact, over two thirds of buyers have said that the front exterior (“kerb appeal”) was a major factor in their decision.
To that end, consider details that you may have initially overlooked like the front door or the boundaries of your property. It is important to remember that the buyer is not just purchasing the building but the garden, the driveway, the fences, everything.
If, however, you want to explore slightly more larger methods of increasing value, major home improvements are almost guaranteed successes. Major renovations such as kitchen remodelling or a loft or cellar conversion can all, on average, net you a further 15% when it comes to selling. Being able to add up to 30% to your market value would prove to be incredibly useful if these predictions are to come true.
There is, however, the chance that spending several tens of thousands of pounds on remodelling your kitchen may not be a sensible investment depending on your current property value. These high-risk, high-reward decisions are by no means as simple as a new paint-job for your home. For this, it is always best to speak to an expert to ensure you are making the right choice.
As we mentioned, you do not have to break the bank in order or fully renovate your home in order to get a slightly better price. More often than not, these things can be done over a few days and any expenses you make can be made back easily when the time comes for selling.