How to increase your home’s value in the first year
26% more buyers have invested in ‘projects’ over new-builds in the last 5 years alone. But, once you have a project on your hands, where’s your money best spent?
Extend your property
Space comes at a premium so, typically, the higher the square footage, the higher the value. On average, extensions add between £50,000 to £100,000 to a property’s value, but only if it makes for a more spacious living area. Find a reliable architect who can consult on your property’s design to make the most of the space before submitting a planning application.
Convert your loft
A loft conversion is a fantastic alternative to a conventional extension. Recent reports state that a loft conversion can add on average 20% to a property’s value. However, before extending, you should speak to a construction professional to find the best type of conversion for the space available.
Refurbish your kitchen
The kitchen is the most valuable room in the home, so it’s an area worth spending some money on. Details that add the most value include new flooring, contemporary fixtures and fittings and cupboard doors. Even if you’d rather not replace your kitchen, you can refurbish its cosmetics and add to your property’s value.
Refresh the paint
Giving a property a fresh lick of paint, replacing skirting boards and door frames and hanging new doors can transform a room. When it comes to selling, stick to muted tones to appeal to the widest audience. Cream and light grey, for instance, help to make a room look bigger. Loud colours can put buyers off.
Think about ‘curb appeal’
First impressions count, which is why your property’s exterior is just as important as its interior when adding value. Consider adding a driveway or paved path, painting your window frames or even replacing your front door to add value.