How do I increase the value of my home?
Many people believe that the only way to add value to your property is by making extensive renovations or even remodelling entirely which can cost tens of thousands of pounds. Whilst adding an extra bedroom or extending by a few metres will see a value increase, that isn’t the only way to add extra pounds onto the asking price.
So, what adds value to your property? To help you decide whether sprucing up and spending time and money on your property is worth it, we have put together big and small projects that will add value without breaking the bank.
Thinking of putting your property on the market? Get an instant FREE valuation today.
Redecorating is the most popular and arguably the most important home improvement. Giving your home a lick of paint and doing some general maintenance can be done cost-effectively. Fresh paint can go a long way to giving your home a new lease of life, so don’t be afraid to pick up the paintbrush!
If your property has any defects, it would be worthwhile to get these sorted. Whilst it is unlikely that it will have a clenching factor in a house sale, small problems can create an impression of a house being run down or not well cared for. Defects include:
- Peeling paint
- Dirty walls, particularly around door frames and around switches
- Dripping taps
- Creaky floorboards
- Mouldy sealant in the kitchens and bathrooms
- Limescale in any kitchen or bathroom fittings
- Broken light bulbs
Kitchens are often the focus for many homebuyers and it may be the first thing that they look to replace if they can not visualise themselves in yours. The stats speak for themselves with 65% of homeowners renovating their kitchen before selling up to add value and attractiveness to their home. You may not be in the position to buy a whole new kitchen but there are many smaller ways to improve what you already have.
For a relatively small budget, painting units or replacing cupboard handles/doors is a cheaper method of refreshing kitchens. Good lighting, clean surfaces and keeping the area clutter-free will make all the difference to the feel of your home. Buyers may be more willing to pay more to save themselves the hassle of buying a new kitchen.
A maintained, tidy and well-designed garden is a big deal and can add a lot of value to your home. It is essential to clear pathways, cut back any overgrown trees and bushes and trim the borders of the greenery. This will provide extra space and will give the buyer the sense of having a desirable garden to relax and entertain.
Open up your living space
Opening up a living space is becoming more and more popular, particularly for the kitchen and dining room. Combining one large room creates a sociable space, great for any homeowner's lifestyle. The organisation of open plan living also has an impact, by keeping the layout minimal and decluttered adds more value than crowded space.
Very few flooring options last a lifetime, and even if they do they require maintenance. Even if your flooring hasn’t worn out, it may be a dated style. Updating a floor can entirely transform the look of a room. It doesn’t have to be expensive and there are many easy DIY options out there if you are on a budget.
You should make sure to choose the right flooring for the purpose of the room, for example,a kitchen will benefit from tiles or another durable and easy to maintain flooring.
Update your central heating
Central heating systems are constantly being modernised and improved to meet the demands of homeowners of today. If you don’t have central heating, this could be damaging to the value of your home and also your EPC Certificate, you can learn more about this on our previous blog on energy performance certificates explained. Likewise, a very old dated boiler can also devalue your property and put off potential buyers.
Upgrading a boiler, particularly if it is over 15 years old, or installing a whole new central heating system is not cheap, but in the long term, it can save you £100s on your heating bills whilst adding value at the same time.
To go a step further and add the finishing touches, consider boxing in your boiler and pipes to hide the unsightly mess.
Searching for a property in Colchester or the surrounding Essex area? Discover the properties on sale with Oakheart Property today.