How to add value to any property: 10 top tips20.04.2017
Whether you’re considering selling a property, have a development opportunity in the pipeline or are just holding on to one at the moment, adding value is essential to ensure you won’t lose money further down the line. Whatever your situation at the moment, there are plenty of things you can do to keep your property in top condition and help it retain its value in the long-run.
Fix structural problems and superficial defects
It might seem obvious, but a worn down, structurally unsound property is not worth as much, no matter where you look. If you’re looking to sell an older property or are in the process of developing, fixing structural issues and making the exterior look neat and tidy is an essential investment which will not only add to the property’s value, but will also help it to sell faster.
Install central heating
No one likes to be chilly, and when browsing the market, central heating is a key factor for many house hunters. It’s best to combine this with energy saving structural fixes like improving insulation and adding double glazing.
This is a disruptive job so anyone looking to move into your property will appreciate things like electricity and plumbing being up to date and in working order when they move in. It’s also worth thinking about doing this before you think about decorating to avoid having to redo jobs.
Convert and extend
Converting roof space or extending a property adds extra space and therefore automatically raises the value of your home. If you’re not keen to undertake this work yourself, but know that your property has potential, it’s never a bad idea to arrange planning permission for this kind of work so that the property can be sold ready to extend.
Enhance kerb appeal
Most buyers will decide whether they like a property or not before even stepping through the door, and shaking off a bad first impression can be tricky. Even if the property is run down, simple things like making sure the exterior paintwork is fresh, keeping the front garden tidy and ensuring doors, windows and brickwork are clean and tidy can help to boost first impressions.
Makeover the kitchen and bathrooms
Kitchens and bathrooms are always massive selling points for residential properties, so giving them a makeover can go a long way in increasing the market value of your home. Simple updates can modernise any property and give spaces the clean and hygienic look that will sway buyers.
As we’ve mentioned already, adding space will automatically increase the value of a property, but if the scope to do this isn’t there, remodelling can work just as well. Creating open plan spaces for a sense of flow, or adding walls to create separate rooms both work, depending on the size of your property.
No matter how attractive your home is on the inside, a neglected and sad outdoor space can instantly draw the price of a property down. Even if you don’t have a lot of outdoor space, make sure what you do have is kept neat and tidy. If you do have plenty of space, create designated areas, like dining, seating and work areas to extend the amount of living space you have to the outside too.
Add some wow factor
This doesn’t have to be spectacular, but one or two features that make your property stand out will make it memorable for buyers who may have seen a range of properties. This could be anything from a decking area, a modern kitchen or simply making the most of your property’s period features or characteristic quirks.
The general rule tends to be that the shorter the lease, the less the property is worth. Extending the lease before you sell, or even taking control of the freehold (if you can), can help to boost value as well as making the process easier for everyone involved in the purchase.
At Austin Gray, we specialise in making the most of our clients’ property across our Auction, Residential and Professional Services divisions and our qualified, professional team know what makes a property sell. If you have any questions about our services or would like us to carry out a full valuation of your property please don’t hesitate to get in touch.