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If you are looking to move up the property ladder, you will be hoping to make a profit on your current home, in order to move into the next price bracket. However many homes don’t simply add value over time, as the economic market is not rising the way it once was, so you need to actively take steps to create the extra value yourself.
One of the easiest and less disruptive ways to add value to your home is to have a loft conversion. Whether you choose to have an additional bedroom or bathroom, it can add on average 12.5% onto the sale price according to GE Money.
Extending your home, and therefore your living space, is always a positive move but make sure it fits well with your current home. A conservatory is something which can make a huge difference to your property, and can add up to 7% but it is important to have a thorough job carried out and that it matches the style of the rest of the home.
If you have a garage, it’s a good idea to transform it into living space. Most UK garages don’t contain a car and are used for additional storage space. By turning it into additional living space, you can add value to your home. However if you have land at the front of your property, you can actually add more value by concreting it over and turning it into additional car parking space. But ensure you keep the flower beds.
By giving the house a fresh lick of paint, you can make a huge difference, making it much more presentable to a prospective buyer. Also make sure the outside area is clean and tidy, and all gutters are unblocked. As well as the exterior of the property, the front door and hallway are usually the first things a buyer will be judging. Give the front door a makeover and consider hanging mirrors in the hallway to make it appear larger.
If you are on a budget and can only afford to refurbish one room in your home, then focus on the kitchen. Known as the heart of the home, by making it appealing to buyers as a dual purpose showpiece, able to host dinner parties one day and doing homework in another then it will be one of the greatest selling points you can offer. If you haven’t already got it, make sure you install central heating and check over your windows and frames. If you think your property has the potential to have extensions or other renovations, but do not intend to carry anything out yourself it is still worth getting planning permission for future owners as this in itself can be a very attractive aspect to the property.
Ultimately prioritise the areas within your home that need work, and work to your budget. But by investing in key areas mentioned above, you’ll be surprised at the difference it can make in the value of your home.
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